The main points behind property taxes
For Monday's Facebook Story of The Day, many of you wanted to know more about property taxes.
KTVO went to the Adair County Assessor's Office in Kirksville and learned property taxes are spilt between real estate property and personal property with items such as vehicles, livestock, and machinery.
Personal property taxes are calculated based on thirty two percent value of the market price while real estate is nineteen percent.
Personal property taxes need to be done yearly. real estate taxes are done on odd years every two years because of reassessment reviews.
"We go out and do reviews and we look to see if something was built that hasn't been turned in or an economic increase in areas were value is up. We need to go back and set those values for that subdivision. We will apply that in the 2013 tax reassessment year," said Adair County Assessor Donnie Waybill.
Values on personal items can go up and down, so personal property taxes are done yearly.
Assessments forms were due on March 1st. Tax statement bills are mailed around November 1st and need to be paid by December 31st to avoid a penalty.