Personal Property

How is personal property assessed?

Personal property is assessed each year and includes cars, trucks, buses, motorcycles, motor homes, boats, motors, campers, trailers, historic vehicles, airplanes, Mobile Homes not attached to owners’ land, heavy equipment, farm machinery and livestock. Vehicle values are predominantly from the N.A.D.A. vehicle value guides, per statute, and other valuation guides and/or market data for other types of personal property. Business equipment is generally valued based on cost/depreciation tables as applied to acquisition cost(s) of equipment, supplemented with market data where available. If you own a business, you need to file your equipment, tools, computers, furniture, fixtures, office machines, etc. as well as any of the previously listed items from the regular form.

Once Value has been determined, the assessor calculates a percentage of that value to arrive at assessed value. The percentage is based on the classification, determined by the type of property or how it is used.

How does the Assessor know what personal property I have?

The assessor sends out personal and business assessment forms in the second week of January each year. If you live in Polk County as of January 1st of that year, you must file with the assessor’s office. It is your responsibility to send a completed form to the assessor by March 1, listing all the taxable personal property you owned January 1. As a courtesy, a second notice is typically mailed in mid-March. The penalty is based on your assessed value and will be added to your tax bill for the year.

What if I don’t receive a personal property list in the mail?

If you do not receive an assessment list please contact our office at (417)326-4643 or (417)326-4346.

What should I do if I move from one county to another county in Missouri?

You will owe taxes to the county that you lived in on January 1. Most counties do not have a system in place to communicate taxpayers moving into or from their county. It is your responsibility to notify the Assessor’s Office.

When is the assessment list due?

The forms are mailed out the first week of January and need to be returned by March 1 to avoid late penalties.

I just purchased a vehicle; will I owe property taxes on it this year?

Property taxes are due on property owned, or under your control, as of January 1.

What if I’m in the military?

Military personnel whose Home of Record is Missouri must file in the county where they entered the service regardless of the location of the property, as per Federal Law 50 USC 571. Military personnel whose Home of Record is NOT Missouri are nontaxable.

What is a tax waiver (statement of non-assessment) & how can I obtain one?

A statement of non-assessment, also called a tax waiver, indicates a specific person, business or corporation does not owe any personal property taxes for a specified tax year. A tax waiver is only used to license a vehicle or obtain a business license. You may be entitled to a waiver if you are one of the following:

• A new resident to the state.
• This is the first vehicle you have ever owned, or have had titled in your name.
• You did not own any personal property on January 1^st the prior year.
• You are in the military and your home of record is not Missouri.
• You lease a vehicle and the leasing company has paid the personal property tax on that vehicle.

Please bring a form of identification and your title.

Why am I being assessed on a vehicle I no longer own?

You are assessed on the vehicle(s) own on January 1 of each year. If you sell or trade a vehicle during that year, your tax bill will reflect what you owned on January 1.

How do I file an Assessment list?

Lists can be mailed in or filed online. We are also available M-F 8:00-5:00 at (417) 326-4643 or (417) 326-4346 if you would like to assess over the phone. As always, you can bring your list in, we would love to meet you!