Property tax assessment procedure
Every person owning or holding real property or tangible personal property on Jan. 1 of any calendar year shall be liable for taxes, with exemptions for certain properties, such as those for charitable, educational and religious purposes. All taxable real and personal property within the City is assessed annually by the county assessors. For residents of Kansas City, real and personal property taxes, other than for railroads and utilities, are included on the county property tax bill. No separate billing for these taxes comes from the City.
Missouri law requires that property be assessed at the following percentages of true value:
Personal property 33 1/3 percent
Residential real property 19 percent
Agricultural real property 12 percent
All other real property 32 percent
A general reassessment of real property occurred statewide in 1985. Beginning Jan. 1, 1987, and every odd-numbered year thereafter, each county assessor is required to adjust the assessed valuation of all real property located within the county in accordance with a two-year assessment and equalization maintenance plan approved by the State Tax Commission.
Property tax rates
Property tax rates in Kansas City, Mo., include the following levies:
|Description||Maximum Levy*||Tax Year 2018 Levy*|
|Debt Service||No limit||$0.2742|
* per $100 of assessed valuation
A Missouri constitutional amendment limits the total amount of taxes which may be imposed in any fiscal year. Provisions are included in the amendment that establishes levy rates so as to produce an amount of revenue equal to that of the previous year. The limit may not be exceeded without a majority vote. The assessed valuations of new construction, new personal property, and newly annexed areas are exempt from this limitation.