<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=4bl91D_11uKwOj800" alt="https://img.particlenews.com/image.php?url=4bl91D_11uKwOj800" width="466" height="372" ></figure>Last week, 14,644 real estate owners in Barry County received a letter they probably did not enjoy reading much, and I was one of them.Titled “2025 Real Estate Value Change Notice,” the letter notified me the property value on my house was being raised. My market value was raised by $7,600, or 9%, and my assessed valuation went up $1,444, the same 9%.So, why is this happening, and how much will it affect my pocketbook? Many others — more than 600 who called or visited Assessor Sherry Smith’s office — had the same question, plus another: How will this affect those 62 and older who qualify for the recently passed SB190 tax credit?After a 30-minute conversation with Smith, I have the answers.The why question has a simple answer — the State Tax Commission (STC) is requiring it. As assessor, Smith tracks the real estate market and property values with sales reports after a parcel is sold, performing quarterly sales ratio analyses. In January, she received a letter from the STC stating the 2023-2024 Ratio Sales Study result of 74.35% fell outside the acceptable parameters of 90-110% required by the STC.“The County WILL consult with their CAMA [appraisal valuation] provider and WILL RAISE residential improvement values for the 2025 Barry County Assessment Cycle. Barry County WILL work on bringing them back into compliance or face consequences.”Those are the STC’s capitalizations, not mine, and I bet Smith was not excited to read them a few months ago.Consequences include a loss of state funding, which would cripple her office, or an even more frightening possibility, a state takeover and adjustment of real estate values.Her hand forced, Smith chose to raise values about 10% on average, which still leaves the county 5-6% under the STC’s parameters, but shows an effort to get more in line. I don’t think we could have asked for much more from Smith in this situation when it comes to considering her constituents.A 10% raise is definitely better than the state coming in and enforcing a 15-35% raise, so thank you, Sherry, for taking action that made the pill a little easier to swallow.The size of that pill, of course, depends on the value of the property. According to a couple online sources, the average house in Barry County is worth about $240,000. Assessed valuation is 19% of that figure, which comes to $45,600.That figure, Smith said, is what taxing entities levy against. Barry County has 71 total taxing entities, from school districts to road districts and fire districts to cities, and more. Smith said on average, a property owner in the county pays about $5 per $1,000 in combined levies.Therefore, if you multiply the assessed valuation by 0.05, you get the total property tax bill — $2,280 on that $250,000 example.In my case, my the hike in my valuation will result in me paying about $70 more in taxes this year. I don’t think that will break the bank.For some seniors though, especially living on meager Social Security or retirement incomes, $70 can have more value. That is likely why the majority of the 600-plus people who contacted Smiths office wanted to know how SB190 would be affected.Set to launch in 2026, the bill overwhelmingly approved by voters in April — 91% in favor — allows property owners to freeze their property taxes upon turning 62 years old. For those who turned 62 last year or before, that freeze will be retroactive to 2024, effectively eliminating the increase doled out this year (though they will have to pay it this year).For those born in 1963 and turning 62 this year, it’s a tough break, but the line has to be drawn somewhere.Next April, a broader property tax freeze option will be on the ballot, with age not being a qualifier. Cassville Superintendent Merlyn Johnson’s guest column in this week’s issue is a great initial explainer, and I am certain we will have more about the SB3 property tax proposal in future editions of this newspaper.The issue of taxes is always hot. No one likes new taxes, or increases in taxes, but for amenities like farm roads that aren’t washed out, school districts that provide an acceptable education, fire trucks that respond during crisis and an operating hospital in town — that’s how they are funded.It’s also worth noting that losing those amenities — or the quality of those amenities suffering — will lower property values in the long run.Real Estate Value changes may only occur on odd-numbered years, meaning in 2027, Smith may again be faced with a required increase. Should the housing market continue rising, the choice won’t be hers.It is possible the market dips and we fall back into the acceptable 90-110% range. If that’s the case, I hope it does not come at the expense of roads, schools, fire districts or the hospital.Kyle Troutman has served as editor of the Cassville Democrat since 2014 and owner/publisher since 2023.He was named William E. James/Missouri Outstanding Young Journalist for daily newspapers in 2017, and he is a two-time ISWNE Golden Dozen award winner. He may be reached at 417-847 2610 or ktroutman@cassville-democrat.com.</div></body>

Block Source: cassville-democrat.com

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Last week, 14,644 real estate owners in Barry County received a letter they probably did not enjoy reading much, and I was one of them. Titled “2025 Real Estate Value Change Notice,” the letter notified me the property value on my house was being raised. My market value was raised by $7,600, or 9%, and my assessed valuation went up $1,444, the same 9%.

Kyle Troutman: Values up; causes, effects laid down

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Last week, 14,644 real estate owners in Barry County received a letter they probably did not enjoy reading much, and I was one of them. Titled “2025 Real E

Kyle Troutman: Values up; causes, effects laid down

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