Property Valuation
In Missouri, the assessed value used for property taxes is based on:
AThe purchase price only
BThe assessor's estimate of true value in money✓ Correct
CThe appraised value in the most recent mortgage appraisal
DThe construction cost
Explanation
Missouri property taxes are based on assessed value, calculated as a percentage of true value in money (market value) as estimated by the county assessor: 19% for residential, 32% for commercial, 12% for agricultural.
Related Missouri Property Valuation Questions
- In Missouri, when an appraiser uses a 'before and after' appraisal method in a partial condemnation, they are calculating:
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