Investments
The duties of the Investments Section include calculating the City's daily cash needs and investing the City's idle cash and bond funds. The objectives of the Investments Section are to ensure full collateralization of all City bank deposits and to invest City funds into investment grade securities which minimize risk, while maximizing liquidity and investment earnings. For a summary of the composition of the investment portfolio, please see the most current Monthly Report.
Public Finance
The Public Finance Section manages the issuance of new debt and the maintenance of the City's outstanding debt portfolio. The objectives of the section are:
- To maintain an effective debt program that provides a means to issue municipal bonds and capital leases in a timely manner
- To obtain capital financing at lowest market rates
- To manage the debt portfolio for efficiency, keeping a healthy portfolio balance, and taking advantage of opportunities to refund or restructure
- To monitor bond covenants
- To account for all debt-related transactions on the City's books
- To provide financial information pertaining to the City's debt
- To provide adequate disclosure on both a primary and continuing basis
- To communicate directly to investors and make the City's financial information easily accessible to them
Information concerning the City's debt portfolio and financial condition can be obtained by visiting the Investor Relations web page. The City's debt program is managed in accordance with the City's adopted Debt Policy which is codified in Section 2-1990 of the Code of Ordinances. Tax Administration
The Tax Administration section is responsible for all activities related to the billing, collection, and accounting for property taxes, special assessments, and related assessment fees. Major activities of this section include:
- Annual property tax levy rate certification
- Annual property tax revenue projections
- Property tax and special assessment billing and collection
- Management of consolidated county property tax billing and collection agreements
- Taxpayer account maintenance
- Enforcement of property taxes and special assessment lien rights
- Outside collection of property taxes and special assessments
- Monitoring of payments under protest
Property Taxes
Assessment Procedure: Every person owning or holding real property or tangible personal property on January 1 of any calendar year shall be liable for taxes, with exemptions for certain properties, such as those for charitable, educational and religious purposes. All taxable real and personal property within the City is assessed annually by the county assessors. Missouri law requires that property be assessed at the following percentages of true value:
- Personal property 33 1/3 %
- Residential real property 19 %
- Agricultural real property 12 %
- All other real property 32 %
A general reassessment of real property occurred statewide in 1985. Beginning January 1, 1987, and every odd-numbered year thereafter, each County Assessor is required to adjust the assessed valuation of all real property located within the county in accordance with a two-year assessment and equalization maintenance plan approved by the State Tax Commission.
Tax Rates
Property tax rates in Kansas City, Missouri include the following levies:
| Description | Maximum Levy* | Tax Year 2011 Levy* |
| General Purpose | $1.00 | $.6786 |
| Health | $.71 | $.7135 |
| Museum | $.02 | $.0188 |
| Debt Service | No limit | $.1400 |
| Total | | $1.5509 |
* per $100 of assessed valuation
A Missouri constitutional amendment limits the total amount of taxes which may be imposed in any fiscal year. Provisions are included in the amendment that establishs levy rates so as to produce an amount of revenue equal to that of the previous year. The limit may not be exceeded without a majority vote. The assessed valuations of new construction, new personal property, and newly annexed areas are exempt from this limitation.
Tax Collection Procedure
The tax collection procedure varies depending on the County in which the property is located and the type of tax being billed and collected. Property taxes are due and payable on the first day of November and delinquent if not paid by December 31st in the year billed. Interest at the rate of twelve (12%) percent per annum attaches to delinquent taxes on January 1 and accrues at the rate of one percent (1%) each month thereafter until paid in full. Other taxes, such as State Railroad and Utility, Financial Institution and Replacement taxes are collected on varying schedules by the counties and state.
City personal property taxes and motor vehicle license fees, other than for railroads and utilities, are included on the county personal property tax bill. No separate billing for these taxes comes from the City.
Real Property Taxes
Cass/Jackson/Platte County
For residents of Cass, Jackson, or Platte County, City real property taxes, other than for railroads and utilities, are included on the county property tax bill. No separate billing for these taxes comes from the City.
Contact information for each County:
Cass County
Cass County Collector
201 West Wall Street
Harrisonville, MO 64701
816-380-8377
Website: www.casscounty.com Jackson County
(Downtown)
Jackson County Courthouse
415 East 12th Street
Kansas City, MO 64106
816-881-3232
Website: www.jacksongov.org (Independence)
Jackson County Courthouse
308 West Kansas
Independence, MO 64050
Platte County
Platte County Courthouse
P.O. Box 408
Platte City, MO 64079
816-858-2232
Website: www.co.platte.mo.us Clay County
For residents in Clay County, City real property taxes, other than for railroads and utilities, are billed and collected by the City Treasurer’s office separate from the billing provided by Clay County for County property taxes. Payment for City real property taxes can be made by mail (by check) or in person (by check, cash or credit card) at the address shown below. Checks should be made payable to “KCMO City Treasurer”.
Information on properties located in Clay County can be obtained by accessing the following link or by contacting the City Treasurer’s office. Finance Department
Tax Administration Section
City Hall, First Floor
414 E. 12th St.
Kansas City, MO 64106
816-513-1213
Email: finance@kcmo.org Clay County
Clay County Courthouse
Administration Building
1 Courthouse Square
Liberty, MO 64068
816-407-3600
Website: www.claycogov.com Special Assessments
The City issues special assessments for the following types of work performed on behalf of a property owner:
- Curb and sidewalk repair
- Sanitary sewer installation
- Nuisance abatement (including mowing and trash removal)
- Demolition and board-up of buildings
- Neighborhood Improvement Districts
For curb, sidewalk, sewer and demolition assessments, the property owner has 60 days from the date of issuance of the assessment to pay the balance of the assessment in full. For trash removal, mowing, and board-up assessments, the property owner has 30 days from the date of issuance of the assessment to pay in full. If not paid in full, all assessments except those issued for trash removal, mowing, and board-up revert to an annual billing and are payable, with interest, in annual installments, the number of which vary by the type of assessment.
Payment for special assessments can be made via mail (by check) or in person (by check, cash or credit card) to the City Treasurer’s office. Checks should be made payable to “KCMO City Treasurer”.
A special assessment is a lien against the property and if left unpaid, may leave the property subject to foreclosure or other collection enforcement actions.
