COUNTY IMPACT NOTICES UPDATE ASSESSMENT LIST

JACKSON - Owners of about one-third of Cape Girardeau County's 30,000 parcels of real estate are receiving Impact Notices advising them of an increase in their property assessments.

"Many of the notices have already gone out, and all of them should be out by next week," said Roger Arnzen, director of the Cape Girardeau County assessor's mapping and appraisal office.

Arnzen explained that Missouri statutes require county assessors' offices to update real estate values in odd-numbered years as a way of maintaining statewide reassessment that took effect in 1985.

Arnzen pointed out that in 1989 all property was carefully reviewed, but two years ago there was not much change and only a few parcels increased in value. Most of the increased value was due to new construction at that time.

Arnzen said that this year his staff physically checked nearly all property in the county. Parcels that were increased ranged from a hike in assessed value of 3 percent to as much as 10-15 percent, Arnzen said.

"The only reason it might be higher is if there were improvements made in the property we had not picked up on previously," he said.

Notices are being sent to owners of all property that have increased assessed values of $500 or more.

Arnzen explained that most of the growth has been in the area of residential property, with commercial property remaining basically the same. Agricultural property is assessed based on a classification system approved by the Missouri Tax Commission.

"The increases we are showing is based on what we had the property appraised at in 1985 or 1987 in most cases," said Arnzen. "This economy has not suffered in real estate. I think people know their property values have gone up."

Since interest rates have dropped, prices of homes have increased, Arnzen said.

One area the assessor's office decided to delay action on was commercial property along Cape LaCroix and Walker creeks. In 1985 it was decided to discount all land in the flood area 25 percent, with the understanding it would be reviewed after the Corps of Engineers flood-control project was finished.

That project is now under way but it is too soon to evaluate its impact. That adjustment likely will be made in 1995, said Assessor Jerry Reynolds.

"Whenever we can see what the project does to the market, we will take appropriate action," said Reynolds.

Arnzen said anyone who receives a notice of increased assessed valuation has an opportunity to meet with him or a member of his staff to discuss the value. Appointments may be scheduled by calling the mapping and appraisal office at 243-3123.

In some cases, Arnzen said his staff would take another look at property.

Anyone who is not satisfied with adjustments made by the assessor's staff will have a right to appeal to the Cape County Board of Equalization, which is scheduled to begin meeting June 14.

The board is comprised of the county commissioners, the auditor, assessor, and the mayors of Cape Girardeau and Jackson. It will meet until sometime in July, after all appeals are considered.

Ultimately, property owners not satisfied with the assessed valuation placed on their property can appeal to the Tax Commission or file suit in circuit court.