Property Tax Lawyers in Dexter
The government of Dexter, Missouri requires most people who own real property to pay taxes on its value. "Real property" refers to land and buildings, as well as anything else which is permanently attached to a piece of land, including trees, oil, groundwater, minerals, and the like.
Property tax in Dexter, Missouri is derived by taking a percentage of the appraised value of the property in question. They are normally collected on an annual or monthly schedule.
The federal government almost never imposes property taxes directly. Property taxes are collected nearly exclusively by state, county, and local governments.
How Property Tax is Calculated in Dexter, Missouri
Normally, Dexter, Missouri property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they usually run from less than 1% up to about 5%.
To collect the property tax in a fair and consistent manner, Dexter, Missouri tax authorities need to have an objective formula for determining the value of land under its jurisdiction.
In some ways, value is a subjective thing. For example, the home in which you grew up is probably worth far more to you than its market value. To get around this, the government uses nothing but objective factors in determining how much a piece of real property is worth.
To that end, the Dexter, Missouri employees in charge of appraising land look at objective facts to determine 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 Dexter, Missouri Property Tax Attorney Can Help.
The system of levying property taxes in Dexter, Missouri can get fairly difficult. Disputes about property taxes, between the taxpayer and the tax authorities, can come up in many different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Furthermore, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If you encounter a legal issue with your Dexter, Missouri property taxes, and don't handle it properly, unnecessary inconvenience and expense can result. If you have the assistance of a qualified tax attorney in Dexter, Missouri, however, the odds of encountering such a problem will be small.