FAQs

The Adair County PVA Office grants an agricultural exemption for all parcels containing 10 acres or more. This is done automatically by us to ensure that all taxpayers have the lowest tax liability allowed by law. An exemption is also granted for taxpayers 65 years or older (Homestead exemption) or those deemed permanently disabled (Disability exemption) or those permanently disabled through military service (Military disability). Please remember only one exemption per household and it applies to your primary residence only. Keep in mind that the person applying for the exemption must be the named on the deed of property.

Contact any of these local districts with questions you may have.

Agricultural Exemption Information

Disability Exemption Information

Homestead Exemption Information

Non-Profit Exemption Information

Religious Exemption Information

Market value is how much property would sell for, in an open market, under normal conditions. Before assessing any parcel of property, the assessor estimates its market value. To estimate market values, the assessor must be familiar with all aspects of the local real estate market, such as: what properties are selling for, local construction/building costs, and operating costs.

A properties value can be determined using three methods:

Property is compared to other similar properties that have sold recently, using only sales where buyer and seller both acted under normal market conditions. This method is called the market approach and is normally used to value residential, vacant, and farm properties.

The second method is called the cost approach, and value is determined using today’s labor and material prices, to replace the structure with a similar one. If the structure is not new, the assessor determines how much it has depreciated since it was built. This calculation is added to the market value of the land to determine a total value for land/improvements.

The third way is to analyze how much an income producing property, like an apartment building, store, or factory will produce if rented. Operating expenses, expenses, insurance, maintenance costs, financing terms, and owner expected profit are all considered. This is the income approach.