Submitted by Lori Jones,

Atchison County Assessor

My office is nearing completion of the real and personal property values for the 2021 tax year.

The Missouri State Tax Commission has ordered Atchison County to increase residential and commercial values by 10% due to the rise of the sales market within Atchison County. Within the next couple of weeks, we will be sending taxpayer change notices to the owners of real property that have an increase in assessed value over 2020.

How do I determine the value of your property?

I look at new construction that has taken place, sales prices of comparable property located nearby, the condition of your property, square footage, style of construction, year built, etc.

For taxing purposes in Missouri, the cost approach is the most commonly used approach to value for residential and commercial property.

Cost approach: First the value of the land is estimated, as if vacant, then I determine the amount it would take to replace your structure with one of similar construction and amenities, including current costs of materials and labor, profit, overhead, permit fees, etc. I then estimate the amount of depreciation from all causes to apply and subtract that amount from the calculation of replacement cost to arrive at an estimated market value for the structure then add the estimated land value to equal a total market value for the property.

Please take a good look at the taxpayer change notice you will be receiving in the mail soon and in all honesty, ask yourself if you would take any less for your property if you were to list it on the market today. And please remember that I am only doing my job. This increase is not my choice and I know that sometimes taking pride in your property seems like a financial punishment but in the long run you will reap the benefit.