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Hoping to appeal a decision to the Missouri State Tax Commission?

The St. Louis County Board of Equalization is sending Decision Notices to the taxpayers that filed appeals this summer. If you received a decision notice or if you purchased a commercial property since June 9, 2019, here is some helpful information.

Pay attention to deadlines

 

The taxpayer has 30 days from the date of the Decision Notice to appeal to the Missouri State Tax Commission. For properties purchased since June 9, 2019, an appeal may be filed to the state tax commission on or before December 31, 2019.

 

 

 

Who can file a tax appeal?

The way an appeal is filed makes a difference. There are two primary audiences who file appeals:

  1. Property owned in an individual name may be appealed by the taxpayer.
  2. Property that is held in a trust or owned by a corporation or LLC must be represented by an attorney.

It is possible to get an appeal

Property taxes are a necessary burden, but that doesn’t mean property owners should pay more than the fair share. If you are a property owner in St. Louis County and looking to file an appeal, or you purchased a commercial property after June 9, 2019, an experienced real estate or property tax attorney can help you understand your rights, while dealing with the complexities of commercial property valuation.

How businesses can decrease what they owe

Missouri property owners are aware that commercial property taxes are on the rise. As the area continues to recover from the foreclosure crisis during the Great Recession, officials are reevaluating the property value of many properties, which could result in owners paying more than their fair share. This can create a headache for some as they try to balance their budgets and keep their businesses running.

These avenues could help owners lower their tax burden:

  • Know the assessor’s value placed on your commercial property: For those responsible for a commercial property portfolio, they may not know there are avenues for reducing assessors’ values, therefore decreasing the amount they pay for real estate taxes.
  • Figure out the value of the property: Property owners should educate themselves on what their property is worth. There are two ways to look at property valuation: 1) What is the value based upon the rental income and expenses? 2) What is the value based upon comparable market sales?

For assistance with your appeal in Missouri, contact The Law Office of Cathy Steele, P.C. Cathy has over 35 years of experience assisting property owners with appeals on commercial property valuations.

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