For most people, a car is the only taxable item of personal property in Missouri. Exempt real estate includes property owned by governments, and property used as non-profit cemeteries, exclusively for religious worship, for schools and colleges, and for purely charitable purposes. However, exemption is not automatic, and it is the responsibility of the property owner to show the property should be exempt from ad valorem taxes. 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. 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. The City Assessor is primarily responsible for assessing property within the City. However, the Assessor's work is subject to review by the City's Board of Equalization and the State Tax Commission. The State Tax Commission is the state agency charged with general supervision of assessors and with enforcing property tax laws. Market value, true value in money and appraised value have the same meaning under Missouri law.