Tax Relief, for those who qualify, is available.

For those who qualify, tax relief is available through the Property Tax Credit (Circuitbreaker) or through the Homestead Preservation Credit. The following web page locations,http://www.dor.mo.gov/tax/personal/ptc/ and http://www.dor.mo.gov/tax/personal/homestead/ have more information. You can also call the Missouri Department of Revenue at (573) 751-3505 for more information. Copies of the eligibility requirements are also available in the assessor’s office. In general, tax relief is intended for qualified senior citizens or 100% disabled individuals. It is important to note that even though property owners, who qualify for the property tax credit, may not be filing income tax returns, they are still able to file for the credit through different forms.

May Activity Update

By April 28, the assessor's office mailed out 2,118 notices of 'change in assessed value for real property' for the 2006 tax year. As a result of this mailing, our office received around 95 calls from property owners asking questions about the notices. These notices are mailed because Missouri law requires them to be sent. Sending them gives a property owner an opportunity to review the assessor's appraised and assessment values prior to the values being turned over to the county. Property owners, who disagree with the assessor's appraised values, have the right to conduct informal hearings with the assessor's office. If an owner is not satisfied with the result of the hearing, then by the laws of Missouri (RSMo 137.180 and 138.275) they have the right to appear before the county Board of Equalization to be heard there. Appointments to appear before this board are made by calling the Phelps County Clerk. The deadline to file for the 2006 Board of Equalization is June 16, 2006. A property owner also has the right to appeal Board of Equalization decision's with higher authorities.

On June 1, the 2006 assessed values for 20,934 real estate parcels were finalized and the values were turned over to the county. Personal property values for 15,934 accounts were also turned over to the county. We will continue to add personal property to the records as people return late forms to us. The totals will be listed in another posting. These assessment value totals will be used by the various taxing districts to establish new tax levies for 2006. A new tax levy for the Saint James Fire District will be added to the tax rolls this fall.

Also, on June 1, the new construction totals were finalized and the report turned over to the county. These totals will be posted later.

During May we completed our statistical studies and derived a new index, or multiplier for our base sqaure foot costs, to be used in the upcoming revaluations for 2007's reassessment. The new index is 2.44, an increase of nearly twenty-three percent from the previous index used in 2005's reassessment. Also, land sales were analyzed and new 2007 land values derived for Phelps County. Depreciation factors, or percent good factors, were determined for the different age categories of structures using recent sales of homes in Phelps County. These studies were filed with the State Tax Commission.