Missouri Tax Commission Overturns Taxpayers’ Property Valuation Due to Overvaluation

The Missouri State Tax Commission overturned the Board of Equalization’s valuation of taxpayers’ property, concluding that the true value in money (TVM) was overstated. The taxpayers claimed that their residential property had been overvalued. The Commission determined that the county assessors did not adhere to the notice and physical inspection requirements mandated by state law, nor did they follow a previous order from the Commission regarding the 2023 assessment cycle. This decision was based on the Commission’s authority to enforce uniformity in property assessments. The Commission also found that the county failed to conduct proper parcel reviews and did not ...