Assessor seeks to clarify local property tax statement issue

Thursday, November 15, 2007

Vernon County Assessor Cherie Roberts said that the office has bee fielding calls recently relating to who pays the real estate property taxes when a home or land is sold.

So, in an effort to clear up the confusion, Roberts has compiled information for real estate agents, buyers and sellers explaining the options.

Roberts said there's often uncertainty over who will receive the tax statement, especially when only a portion of a property is sold.

According to a letter from Roberts, the state of Missouri outlines procedures for just such occasions.

When a portion of a property is sold, with the original owner retaining part of it, the timing of the sale determines who gets the statement.

If the portion is sold between Jan. 1 and July 31, both will receive statements.

For example, "Mr. Smith sells Mr. Jones 10 acres off of his 160-acre farm. Mr. Smith will receive a tax statement in November for 150 acres. Mr. Jones will receive a tax statement for 10 acres," Roberts noted. But if the sale takes place between Aug. 1 and Dec. 31, then Smith receives a statement for all 160 acres; Jones does not receive a statement for his 10 acres until the following year.

The same timeline applies if the entire property is sold. If the sale takes place between Jan. 1 and July 31, the buyer receives the statement, but if it takes places between Aug. 1 and Dec. 31, the seller receives the statement. The buyer receives the statement the following year.

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