Personal Property

RSMO Chapter 137

   

       Answers to frequently asked questions

What is personal property tax?

   Personal property tax is a tax which is based upon the value of taxable personal property. Personal property is everything that is not real property, that is to say, everything that is not real estate.

What is taxable personal property?

See RSMO:  137.115   137.120

   Taxable personal property consists of motor vehicles, trailers, mobile homes, watercraft, boat motors, aircraft, livestock, farm machinery and equipment, agricultural crops, and any other personal property not exempted by law. Taxation of business enterprises is not included here because its complexity is beyond the scope of this explanation.

Who owes personal property tax?

See RSMO: 137.075

   Every person owning or holding taxable personal property in Missouri 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. This includes the property of non-residents whose property is held in Missouri, but does not include the property of non-residents whose property is regularly kept in another state, but just happens to be in Missouri on the first of January.

How much can I expect to pay?

   Your tax is calculated by dividing the assessed value of your property by 100 and then multiplying that result by the tax levy. The formula looks like this:

(Assessed Value / 100) x Tax Levy.

What is assessed value?

Assessed value is a percentage of market value. In order to calculate the assessed value, multiply the market value by the adjustment factor which applies to the item of property being considered. The adjustment factors are as follows:

  • All property except that listed below                     33 1/3%

  • Mobile homes used as dwellings                               19%

  • Grain and other Agricultural Crops                            .05%

  • Livestock and Poultry                                               12%

  • Farm Machinery                                                       12%

  • Historic motor vehicles under 301.131 RSMO               5%

  • Certain aircraft see section 137.115 RSMO                  5%

  • Certain business tools and equipment                (see laws)

What is a tax levy?

   The levy is the figure which is multiplied by the assessed value to arrive at the tax amount (See the Taxing Districts page on this website to determine the levies of the districts in which you live). A levy is a tax rate, sometimes called a mill rate, which is set by each taxing district which derives a part of its revenue from property tax. Taxing districts cannot arbitrarily set the tax rate they charge, but instead must put the proposed rate to a vote of the residents living within that district. Once the levy rate has been approved by the voters it typically remains at that rate until another vote is taken.

How is the value of my property determined?

   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. This rate book is used by all Missouri counties. For any questions concerning the valuation of your property, your point of contact is the Greene County Assessor's Office. The County Assessor is the official whose responsibility is to assess the value of all taxable personal property within the county.

What do I do if I believe my property has been overvalued?

Contact the Assessor's Office. The Assessor's phone number is (417) 868-4101.

How does personal property get taxed; do I need to do anything?

See RSMO: 137.340

   Yes. Each year you are required to make a list, called an assessment list, of all of your taxable personal property and mail or deliver this list to the County Assessor's office in the county where you lived on the first day of January. This list is due no later than the first of March.

Is there a form available for this purpose?

   Yes. Each January the Assessor mails a form to everyone who submitted an assessment list or opened a new tax account the previous year. If you do not receive one of these forms by the middle of January, you should call the Assessor's office and request one. The Assessor's phone number is (417) 868-4101. Select the personal property tax option from the phone menu.

What is an Assessor?

The Assessor is the elected county official who is charged with the responsibility of determining the value of all taxable real estate and personal property within the county.

Where is personal property assessed?

See RSMO: 137.090

   All taxable personal property shall be assessed in the county in which the owner resides on the first day of January with a few exceptions. The exceptions are: houseboats, cabin cruisers, floating boat docks, and immobile mobile homes shall be assessed in the county in which they were located on the first day of January. Personal property owned by an estate shall be assessed in the county in which the division of the circuit court has jurisdiction.

When do I pay personal property tax?

   Personal property tax bills are mailed in early November each year and must be paid by December 31st. Payments not postmarked by December 31 will incur late payment fees.