KANSAS CITY, Mo. — As property owners across Jackson County, Missouri, appeal recent assessments of their home’s value, taxing jurisdictions have not yet set mill levies. School districts, cities, counties and other agencies which collect tax revenue typically set their rates in September.
The amount property owners pay in taxes is a percentage of their property’s assessed value. If taxing jurisdictions don’t adjust their tax rates, they’ll collect more tax dollars as property values increase. Missouri’s auditor’s office sets a ceiling every year on how much jurisdictions can collect in tax revenue. To stay within that limit, jurisdictions often must lower their tax rates, also known as mill levies.
“[Tax rates] are always in your head when you’re retired and fixed income,” Lori Greene explained.
She and her husband successfully appealed the assessed value of their home. The assessor’s office agreed to reduce their assessment by $50,000, which Greene thought was more fair.
In fact, many property owners who spoke with KSHB 41 News after their appointments with the assessor’s office reported lower assessed values. Michael Mansfield’s Kansas City, Missouri, home went up by roughly 400% in his initial assessment. Through his appeal, he brought the price down to a reasonable level. Mansfield said that will save thousands in tax dollars, no matter what the mill levy becomes.
“[I remain] a little bit worried because you still don’t know the final result of what our tax will be,” he admitted. “But hopefully not $14,000. That’s the big problem.”
The assessors office is accepting appointments for appeals until July 31, 2023.
