Department of Revenue Glossary
Ad Valorem Taxes

Ad valorem taxes are taxes based on the value of property. These are commonly known as property taxes.

Agricultural/Horticultural Land Grades

Agricultural/horticultural land is divided into eight grades based on its productive value. Grade 1 is the best land, grade 8 is the poorest.

Appraised Value

The appraised value is an estimation of the true value in money of residential, commercial or utility property, or the productive value of agricultural property.

Assessed Value

The assessed value is the portion of the true value in money on which taxes are based. In Missouri, the assessed value of property may not exceed 33 and 1/3% of its true value in money. For real property, residential property is assessed at 19% of its true value in money; agricultural/horticultural property is assessed at 12% of its productive value; and all other property is assessed at 32% of its true value in money. Most personal property is assessed at 33 and 1/3% of its true value in money.

Assessment Jurisdiction

The assessment jurisdiction is the county in which the subject property is located. The City of Saint Louis is a separate assessment jurisdiction.

Classification

For property tax purposes, property is divided into three classes: (1) real property; (2) tangible personal property; and (3) intangible personal property. Real property is subclassified as (1) residential, (2) agricultural/horticultural, and (3) utility, industrial, commercial, railroad, and all other. Property must be assessed uniformly within its own class or subclass.

Commission

The Commission is the State Tax Commission of Missouri.

Complainant

The Complainant is the taxpayer or his representative bringing an appeal before the Commission.

Improvements

Improvements are buildings, additions to buildings, sidewalks, parking lots, wells and other permanently attached additions to land.

Intangible Personal Property

Intangible personal property includes such things as stocks, bonds, notes and patents.

Personal Property Account Number

A nine character number that identifies a personal property account. Beginning in the year 2004 all new account numbers will begin with a letter followed by eight numbers. The letter signifies the account type. See the tables below for more details.

Account Number Details - Beginning in 2004
First Position
  • B - Business
  • E - Leased Equipment
  • I - Individual
  • M - Manufacturing
  • L - Leased Vehicle
  • Positions 2 - 9 Always a numeric number.

    Account Number Details - Prior to 2004
    First Position
  • B - Business or Leased Equipment
  • I - Individual
  • L - Leased Vehicle
  • M - Leased Equipment or Manufacturing
  • 0-9 - Individual
  • Second Position
  • N - Individual
  • L - Leased Vehicle
  • 0-9 - Individual
  • Positions 3 - 8 Always a numeric number.
    Last Position
  • A - Primary Business or Manufacturer
  • B-Z - Leased Equipment
  • 0-9 - Individual or Leased Vehicle

  • Productive Use Value

    Productive use value is that value which land has for agricultural/horticultural use.

    Real Property

    Real property includes the land itself and all growing crops, buildings, structures, improvements and fixtures on the land. It also includes all rights and priviledges belonging or related to the land.

    Respondent

    The Respondent is the assessor of the county where the property was assessed. In the City of St. Louis, the Respondent is the assessor of the City of St. Louis.

    Subject Property

    The subject property is the property under appeal.

    Subject Tax Day

    The subject tax day is January first of the year which the disputed assessments were made.

    Tangible Personal Property

    Tangible personal property includes such things as automobiles, farm implements and boats which are movable and are not permanently attached to the land.

    True Value In Money

    The true value in money is the price the property would bring when offered for sale by a person who is willing but not obligated to sell it, and is bought by a person who is willing to purchase it but who is not forced to do so. The true value in money of agricultural/horticultural land is defined as productive use value.