Personal Property Assessments:
Every January the Lincoln County Assessors Office, as a courtesy mails out a Personal Property Assessment form to each person(s) and business(s) that declared personal property the previous calendar year. All assessment forms contain pre-printed items that were declared the previous year also. If you moved within the county or have moved out of Lincoln County or changed your mailing address, you need to contact the Assessor’s Office and notify them of the change. There is a common error that the Assessor’s Office automatically knows when property owners move in and out of the county; this is not true by any means.
Every person or business owning or holding tangible personal property on the 1st day of January of that calendar tax year shall be liable for taxes for that calendar year (State Statute Chapter 137.075RSMo). All personal property assessent forms are to be returned to the County Assessor no later than March 1st of that calendar year. In the event that the assessment form is not returned by March 1st, a second notice, as a courtesy, will be mailed same as above with the last known mailing address. If the second notice or first notice is not returned by May 1st, that assessment may be subject to penalties up to $100.00
The definition of tangible personal property includes every tangible thing being owned or part owned whether animate or inanimate, other than money, household goods, wearing apparel and articles fo personal use and adornment, as defined by the State Tax Commission, owned and used by a person(s) in his home or dwelling place (State Statute 137.010 (4) RSMo). There are some exceptions to the law, please refer to the Missouri State Statutes.
According to Missouri State Statutes all personal property shall be assessed in the county where the owner resides. Our office will not accept any assessments that have a P.O. Box addresses without a situs or physical address accompanying their assessment. In some cases we will need to see proof of residence to file an assessment. There are exceptions to the residency filing of personal property; U.S. Coast Guard documented vessels in other counties, floating boat docks residing in other counties, and manufactured homes shall be assessed in the county they are located. All articles of personal use contained with the residence or dwelling place are NOT subject to assessment. Property used for commercial, industrial, and agriculture purposes shall be considered taxable personal property.
Examples of Personal Property
Cars, Trucks, Motorcycles, Boats, Boat Motors, Boat Trailers, Utility Trailiers, ATV’s, Wave Runners, Camping Trailers, Recreational Vehicles, any vehicle that requires a Missouri License Plate.
Tractors, Combines, Bulldozers, Livestock, Grain, Planting-cultivation equipment, Feeding-milking equipment, Construction-transport equipment.
Computers, Desks, Business Furniture, Copiers, Security Systems, Phone Systems, Machines, Tool-Dies, Cranes, Bulldozers, Heavy Construction Equipment, Licensed company vehicles, Display Cases, Shelving, Cash Registers, Food preparation equipment, etc..
The above examples may have some items that are missing, if you are concerned on what should be reported or not, please contact the Assessor’s Office, Personal Property Department.
Valuation(s) of the personal property is calculated using information supplied by the Missouri State Tax Commission’s Office. The value data for most vehicles is calculated from using NADA average wholesale values per model and make of the vehicle. The Lincoln County Assessors Office does not apply any mileage exemptions or depreciations some other counties may apply to vehicles.
Personal Property is appraised and assessed each year, as of January 1st. Each taxpayer is required to update all information concerning make, model, year of autos, trucks, motorcycles, etc., and the purchase price and year of purchase for business machinery, construction equipment, office equipment, etc. wth the County Assessor at start of each year (State Statute Chapter 137.080RSMo). In the event that there are no changes in your personal property for the previous year, you are required to submit a list to the County Assessor before May 1st of each calendar year.
When you receive the assessment form, be sure to see that the assessment contains all names that own the property, that the mailing address is correct. You will notice that the new assessment list will s how previous years listing of personal property, the information will be pre-printed upon the new assessment form. Please read the directions on the assessment form as to filling out the form, if you no longer own a vehicle or item for the previous assessment year, draw a line through it and add any new items on the back of the assessment form in the appropriate areas. Make sure that you are specific i describing the items that are new, you may want to use vehicle titles or renewal forms to make sure your vehicles are reported with the correct year and make of the vehicle to avoid any complications with your local license bureau when renewing your license.
In some cases we do make clerical errors entering any new data on the assessment forms, when tax bills are mailed, make sure the information is correct as to what should have been assessed on January 1st of that calendar year. If there is a mistake or concern, please contact the Personal Property Department (636) 528-6300.
If you do not receive a Personal Property Notice, it is your responsibility to file an assessment for that calendar year, if you have moved recently or have moved to another county, be responsible and contact the Assessor’s Office and do what is necessary to get assessed for your property.