Property Tax Lawyers in O'fallon

O'fallon, Missouri laws require that most owners of real property pay taxes on its value. "Real property" refers to building and land, and objects (like natural resources) that are permanently affixed to the land.

The property tax in O'fallon, Missouri is simply a percentage of a piece of property's appraised value, paid to the state and/or local government on a periodic - usually annual - basis.

Generally, property taxes are not levied by the federal government. This applies to everywhere in the U.S.. Usually, property taxes are imposed by state and local governments.

How Property Tax is Calculated in O

Most often, property taxes in O'fallon, Missouri are simply a set percentage of the property's value. Across the country, state authorities impose a wide range of different tax rates. The highest rates in the country are in the area of 5% of the property's value, and the lowest are less than 1%.

To collect the property tax in a fair and consistent manner, O'fallon, Missouri tax authorities need to have an objective formula for determining the value of land under its jurisdiction.

In many ways, the value of a piece of land is relative. After all, many people ascribe sentimental value to their homes, which goes well beyond its market value. To ensure that the system is fair, the government uses only objective standards to determine value.

To that end, the O'fallon, Missouri employees in charge of appraising land look at objective facts to calculate value, like the size of the land and any buildings on it, the way in which the land may legally be used (zoning), and the health of the local real estate market.

How A O

The property tax system in O'fallon, Missouri can get pretty complicated. There are many reasons why you might run into a legal dispute regarding your property tax. For example, you may believe that the appraised value of your property was too high, increasing your tax burden unjustly. Or, the state might accuse you of failing to pay your property tax.

If you encounter a legal issue with your O'fallon, Missouri property taxes, and don't handle it properly, unnecessary inconvenience and expense can result. If you have the assistance of a competent tax attorney in O'fallon, Missouri, however, the odds of encountering such a problem will be small.