Some Jackson County property owners are seeing their property values double and triple this month after the county underwent their reassessment on property for 2019.
While Jackson County is in a reappraisal year, the state of Missouri mandates that property values need to reflect market conditions as closely as possible. As a country, being in one of the hottest real estate markets in recent memory has not helped with the reappraisals across the nation. In Mecklenburg County, Charlotte residents are feeling similar pain.
Many of the commercial properties in Jackson County more than doubled during the reappraisal with the county playing catch-up with market transactions.
For property owners seeing significant increases,” Gail McCann Beatty said the combination of a strong market and some homes that “may have reaped benefits of their home being undervalued for a while.”
Commercial property owners have to hire an attorney to work on the case to present it at the state level. These court fees can be costly and you have to weigh the cost-benefit of the taxable value vs. those fees.
Individual residents who want to appeal the assessment have three opportunities to do so. Residents will need to request to work informally before June 24th.
