What is Reassessment and Why is it Necessary?
Under Missouri’s Constitution, all assessments for property tax purposes must be based upon market value and be uniform within the same class or subclass of property. Reassessment is the review of all the property in a county to ensure the assessments are uniform and equitable. The assessor updates the assessments in each county to equalize values among the taxpayers and adjusts value to reflect current market conditions. Over time, the value of property may change, depending upon its nature, location, and other factors. Some values change more rapidly than others. Reassessment is the only way to be sure that the taxpayer is being taxed fairly, and is taxed the same as other comparable property.
