Property Valuation
In Missouri, the assessed value of residential property is typically:
A100% of market value
B19% of true value in money (market value)✓ Correct
C33.3% of market value
D50% of market value
Explanation
Missouri law sets the residential assessment ratio at 19% of true value in money (market value). Commercial property is assessed at 32%, and agricultural land at 12%.
Related Missouri Property Valuation Questions
- Under Missouri property tax law, the assessment ratio for commercial property is:
- When two nearly identical properties in Missouri differ only in that one has a swimming pool and the other does not, and they sell for $240,000 and $225,000 respectively, the value of the pool is estimated at:
- In Missouri appraisal, an adjustment is made to a comparable sale for a feature the subject property lacks. This adjustment is:
- A comparable property sold 6 months ago at $300,000 in a market with 2% annual appreciation. What is the time-adjusted value of the comparable for today?
- In Missouri, a property with an undesirable easement (e.g., utility corridor) would most likely sell for:
- A Missouri appraiser must disclose all limiting conditions and assumptions in their appraisal report. This is required by:
- In Missouri, when the cost approach is used for a new building, depreciation is:
- Remaining economic life in Missouri appraisal is used to:
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