The County Assessor is the elected official to oversee that all real estate and personal property within the county is assigned a value for taxing purposes. The Assessor does not collect or calculate the tax. The assessed value is only a percentage of market value. You do not pay tax on full market value. The Assessor uses standard valuation manuals for all of the various types of personal property. Vehicles are the most widely owned form of taxable personal property, and for this the Assessor uses a rate book provided by the Missouri State Tax Commission. As a general rule, assessed value for most personal property is about 1/3 of blue book or retail value.
The Assessed value of real estate is a little more complex to calculate and has many variables. To begin with, there are three classifications for real estate: agricultural, residential and commercial. The Assessor actually determines the Assessed value based on specific guidelines and formulas; however, to help taxpayers relate their assessed value to market value, the following percentages can be used for estimating assessed value:
Example using $100,000 market value
Agricultural is assessed at approximately 12% of market value $12,000 Residential is assessed at approximately 19% of market value $19,000 Commercial is assessed at approximately 32% of market value $32,000 The market value arrived based on assessed value is not a true market value and should not be used establishing a sales price. It is recommended that you contact a professional real estate agent or appraiser to determine your actual retail sales price of your real estate.
If you disagree with the value assigned to your property, you should first contact the Johnson County Assessor. If you still do not agree with the value, you may file an appeal with the Board of Equalization held each year in July. If you disagree with the decision of the Board of Equalization, you may file an appeal to the State Tax Commission. Appeals must be filed within 30 days of the Board of Equalization’s decision. Contact the Johnson County Assessor’s office for more information regarding this process.