Texas County Courthouseprint - resized 117 x 147

 

Buying & selling Real Estate

 

In most cases, the taxes are pro-rated between the parties at the time of closing. The seller’s portion is credited to the funds 

of the buyer and then the buyer will be responsible for the full bill at the end of the year. It is the money that is exchanged only on paper so please check your settlement statement and consult with your closing agent if you have any questions on how your individual case was handled.

 

I recently bought the property, should I get a tax bill this year

The Assessor’s office closes the files around July 1st so the Collector can prepare the tax books and bills. The owner’s name cannot be changed one the books are locked in and printed. After November 1, the closing agent usually pays the tax at the time of closing.  However, any unpaid tax becomes the responsibility of the new owner. It is advised that you confirm all taxes are paid on any real estate acquired no matter what time of the year it is transferred.

 

I recently sold my real estate and I received the tax bill

The taxes were probably taken care of at closing. Contact the Collector’s office to verify payment and/or transfer information. Also, you may want to review your settlement sheet to 

confirm that your portion was withheld at closing. This is the amount you will use as an income tax deduction. Your settlement sheet will be your proof of payment. The tax receipt will be for the full year not just your portion as seller.

 

I want to change the name and address on my real estate

When a tract of land is sold, a deed or other legal document is filed in the County Recorder’s office. These transfers are provided to the Assessor as provided by law. The Assessor’s office updates the ownership and mailing address based on the information on the deeds. The address can be changed in the Assessor’s office. However, the name or legal description is incorrect. A corrected deed will need to be recorded in order to change the information on the Assessor’s records. Contact the Real Estate Department of the Assessor’s office to discuss any changes.

 

Property sold at Courthouse steps

In Missouri any property that has three years of unpaid tax, must be offered by the County Collector for public auction to 

satisfy unpaid taxes, interest, penalties and costs. Foreclosure sales are quite different and do not have as many restrictions. Foreclosures are sale conducted by a legal representative for a lienholder when a borrower becomes delinquent on their repayment of loan. Notices of foreclosure sales are not required to be posted or reported to any office in the Courthouse. They just use the “public” facility in which to hold the sales.