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Clay County assessor defends 50‑year class life for property depreciation; appeals pending
Summary
County staff told the BOE it used a 50‑year class life to depreciate real property, said the state tax commission previously verified that class life, and noted related appeals are pending at the Missouri Court of Appeals, Western District.
Lucas Wallingford, the county assessor with the Clay County Board of Equalization, told the board the county used a 50‑year class life when assessing the property at issue and said that, in his view, the approach is correct. "We believe this to be correct, and the decision last year at the state tax commission verified that this is the correct class life to depreciate real property," he said.
Wallingford said the parties are engaged in litigation over that decision and that the case is before the Missouri Court of Appeals, Western District, with no oral-argument date yet assigned. He told the Spire representatives the board would follow up and said the board intends to issue a decision in the next few days.
