Cape Girardeau County 'value change' notices out

This week, Cape Girardeau County property owners have begun receiving via U.S. mail "value change" notices of their 2023 property assessment, and most properties will see an 8.5% increase.

An email from County Assessor Bob Adams reveals property valuations are based on either of the following criteria;

• via site appraisals of actual improvements or changes to the property; or,
• via the use of mass appraisal techniques based on local market sales data.

Adams' office said market data shows median sale prices of real property went up 8% from 2020 to 2021, and up another 9% from 2021 to 2022.

Adding the two years together brings the total average sale price increase to 17% between 2020 and 2022.

Of note

Values for agricultural land in production remain unchanged. Their values are set by Missouri's Legislature.

Additionally, properties whose assessments remain unchanged from last year, or have decreased, will not receive a notice.

The value change notices give detailed instructions on how to appeal if a property owner believes the new value exceeds the value of the real estate.

Adams' office said any appeals to assessment changes must be made on the property's actual value, not on the amount of increase or any potential change in taxes. Evidence of property value will be required for an appeal.

Informal appeals to the assessor must be made by Friday, June 30, by calling (573) 243-2468 or by emailing appraisal@capecounty.us.

Formal appeals for a Board of Equalization hearing must be submitted in writing to Cape Girardeau County Clerk Kara Clark Summers before Monday, July 10.

More information about the formal appeal process may be found at www.capecounty.us/cape-girardeau-county-clerk/board-of-equalization.