FAQs • Cole County, MO • CivicEngage

I recently purchased real estate; will I receive a bill this year?: When real estate is bought or sold on or after October 1, the tax bill may be generated in the previous owner’s (seller) name and mailed to the address on file prior to October 1, unless the new owner (purchaser) notifies the Collector’s or Assessor’s Office of a change in property ownership. The new owner is responsible for the taxes on the property regardless if a tax bill is received. If you are a new owner and have not received a tax bill by December 10, please contact the Collector’s Office immediately. Please call 573-634-9124 for more information.

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Escrowed Taxes

1. What are Escrow Taxes?: Escrow taxes are funds which have been collected by a bank, loan, mortgage or service company from the property owner for the payment of taxes. These funds are usually collected monthly as part of the regular payment and held in escrow until the taxes are due. The lien holder will request the billing be sent to the lien holder’s address and should remit payment to the Collector’s Office on behalf of the owner. Please call 573-634-9124 for more information.

2. What will happen if my mortgage company does not pay my taxes by December 31?: You are responsible for the payment of your real estate property taxes whether or not you have escrowed with your lien holder. Real estate property tax bills that are not paid before January 1 will accrue late penalties and fees. Please call 573-634-9124 for more information.

3. I recently purchased real estate; will I receive a bill this year?: When real estate is bought or sold on or after October 1, the tax bill may be generated in the previous owner’s (seller) name and mailed to the address on file prior to October 1, unless the new owner (purchaser) notifies the Collector’s or Assessor’s Office of a change in property ownership. The new owner is responsible for the taxes on the property regardless if a tax bill is received. If you are a new owner and have not received a tax bill by December 10, please contact the Collector’s Office immediately. Please call 573-634-9124 for more information.

4. My loan has been paid off. Will my mortgage company still pay the taxes this year?: Please check with your mortgage company. Depending upon the timing of the payoff, your loan company will most likely return the escrow balance to you or credit the escrow against the loan balance due. If you are now responsible for paying the bill directly please contact the Collector’s Office immediately so we may forward a copy of the tax bill to you. Please call 573-634-9124 for more information.

5. I received my loan from one company, but now I send my payments to a different company. Which company will pay my taxes?: With today’s frequency of mergers between financial institutions and the practice of selling loans to another company, an escrow account may change companies throughout the year. Additionally, mortgage companies may contract with a tax service company to monitor and submit their clients’ tax payments. The Collector’s Office recommends that homeowners escrowing for their taxes verify where the real estate property tax bill is being mailed. Please call 573-634-9124 for more information.

6. I have moved recently and have not received my tax bill. Who should I notify?: Please notify either the Collector’s or the Assessor’s Office immediately of any changes to your address. However, failure to receive a tax bill does not relieve your obligation to pay property taxes and any late charges due. If you have not received a bill before December 10, contact the Collector’s Office immediately, so we can forward a copy of the tax bill to you. Please call 573-634-9124 for more information.