Grundy County was notified today that two appeals on tax assessments have been made to the Missouri State Tax Commission. These involve the Trenton Senior Housing doing business as Adams Park Apartments and the J-B Wright Memorial Hospital—specifically the physicians' office building.
The state tax commission did not specify a date to hear the appeals. It should be noted that when the state tax commission ruled on an exemption request for Green Hills Community Action Agency's residential property, the decision was made TWO YEARS after the appeals were made on 2010 property assessments.
State Representative Casey Guernsey has told KTTN he is planning to request the State Tax Commission staff AND commissioners hold a hearing at Trenton. Such hearings are often held in Jefferson City.
According to a letter from the state tax commission, and released by Grundy County Clerk's office, the Board of Equalization set the assessed valuation for the Adams Park Apartments at nearly 418 thousand dollars. ($417,910). The letter states the owners would like the assessment, using an “income approach” to be 24 thousand.
The letter notes the board of equalization assessment for the new physicians' group office tops 963 thousand dollars. ($963,610). The doctor's group wants a TOTAL exemption for charitable purposes—owing nothing in local taxes.
County Clerk Betty Spickard said she plans to alert each of the taxing entities of Grundy County to the appeals that have been made. In the event the state tax commissioner sides with the petitioners, the taxing entities—she said—may wish to re-evaluate their budgets.
At stake is over one million, 381 thousand dollars in assessed valuation; that potentially, IF appeals are successful, could drop to only 24 thousand dollars.
The doctor's office building is located in the Pleasant View R-6 school district which, such a significant reduction in local tax revenue, would adversely impact that district near Trenton.
The potential loss in tax revenue for taxing entities is not the only concern for Grundy County. Assessor Don Stotts says he and other assessors have been notified that the state plans to stop providing a financial supplement per real estate parcel. Stotts said currently, that payment is three dollars a parcel. But he has been told it will be dropped—noting that some legislators believe county government should be
funded by county money.
Once the state's supplement goes away, that could result in an estimated 30 thousand dollars reduction in revenue for Grundy County.