Property Assessments

Personal Property Assessment

Every person owning or holding real property or tangible personal property on the first day of January, including all such property purchased on that day, shall be liable for taxes thereon during the same calendar year. §137.075 RSMo

Assessment Cycle

Personal property is assessed each year. The taxpayer is required to update all information concerning the make, model, and year of autos, as well as the purchase price and year of purchase for machinery, office equipment, etc., with the County Assessor at the start of each year. §137.080 RSMo.

Property is assessed as of January 1. Taxpayers must submit a list of personal property to the Assessor before March 1 of each calendar year. Property is assessed as of January 1. Taxpayers must submit a list of personal property to the Assessor before March 1 of each year.

Determination of Taxes

The amount of personal property taxes imposed on a taxpayer is determined by two factors:

1. The assessed value of their taxable property -- 33.3% of the true value -- established by the local assessor.
2. The tax rate set by the governing bodies of local governments where the property is located.

The amount of taxes levied is determined by the tax rate for every $100 of assessed value.

Assessed Value / 100 x Tax Rate = Tax Levied Example: $2140   21.40 x $5.66 =$121.12

Liability of Taxes

Taxes are due on December 31 on property owned on the assessment date, i.e., a person moves into Missouri on March 1, 2001. He/she is not assessed until January 1, 2002, and does not pay taxes on property owned on that date until December of 2002. A person moves out of Missouri in June 2001. He/she was assessed on January 1, 2001, on property owned on that date and pays taxes for 2001 in Missouri even though he/she has moved away.

For more information please contact the Macon County Assessor.