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Confused by latest order? How to calculate if your Jackson County assessment is within limits
Confused by latest order? How to calculate if your Jackson County assessment is within limits

Yahoo

timea day ago

  • Business
  • Yahoo

Confused by latest order? How to calculate if your Jackson County assessment is within limits

KANSAS CITY, Mo. — Jackson County assessments are showing up in homeowner's mailboxes. Some people may be surprised at the increase after a May order from the State Tax Commission. Some taxpayers may receive tax refunds in June: When payments could arrive That order capped increases in each assessment period at 15% and set 2022 as a starting point for this year's assessments after 2023 assessments were heavily contested. But determining your maximum 2025 assessment is a little bit more complicated than a single multiplication or division. Legislator Sean Smith and Preston Smith (no relation) have been helping homeowners with appeals since assessments skyrocketed in 2023. This week as they went out again they've been getting questions about what the latest State Tax Commission Order and 15% cap really means. 'People look at it and the first thing they see is, I thought it was only going to be a 15% increase and that was the perception. I've probably answered it online 100 times,' Preston Smith said. 'A lot of people are contacting me thinking they only do the 15 percent once, but you have to do it twice,' Legislator Sean Smith explained. To illustrate how it works with the latest rules using 2022 assessments as the starting point, consider a home with a $100,000 assessed value in 2022. To calculate the maximum assessed value in 2023 multiply $100,000 by 1.15 which is $115,000. But then you have to multiply by 115% again to determine the maximum value a home could be assessed at this year. In this example it would be $132,250. The two 15% increases end up yielding a maximum increase of 32.25% during the two assessment periods. 'I would really urge people to do the math themselves to check it, check and really verify,' Preston Smith said. To do that, however, you have to know your home's 2022 assessed value, which according to those who have received this year's assessments, isn't on this year's notices. You can find that historical information online at the Jackson County Parcel Viewer or Ascend Web. If your increase ends up beyond the allowances under the State order or if you simply don't agree with your value, you still can appeal. Appeals have to be filed by July 14. Download WDAF+ for Roku, Fire TV, Apple TV As for seniors, 40,000 are already enrolled in a new tax credit program freezing tax bills. The county says estimated savings are included on notices, but are subject to change. Both Sean and Preston Smith say they are pressing the Assessor's Office for complete assessment data in 2022, 2023 and 2025 to see how much home values increased, and how many of those increases equated to the maximum allowed if no new construction was done under the State Tax Commission Order without a physical inspection. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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