Missouri Tax Commission Overturns Jackson County’s Property Valuation for Lakefront Home

The Missouri State Tax Commission set aside the Jackson County Board of Equalization’s valuation of the taxpayer’s residential property. The dispute centered around the inability of the taxpayers to access the lake from their dock during the summer months due to the property’s location deep in a cove with shallow water. The taxpayers presented testimony and an appraisal by an experienced local appraiser valuing the property at $585,000 as of Jan. 1, 2023. The county had valued the property at $690,000, reduced from an initial assessment of $796,820 to comply with a prior Commission order limiting increases. The Commission found ...