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A huge financial hardship

Goode launched his business in 2015 to honor his beloved late grandmother Ruby Jean, who had passed away from Type 2 diabetes at the age of 61. He opened a store on Troost Avenue in 2017, and five years later, he bought the building it occupies.

Troost Avenue, historically, was considered Kansas City's racial dividing line. In recent years, new high-end businesses and condo buildings have popped up, bringing new life to the neighborhood.

Unfortunately, though, as neighborhoods become more desirable, property values tend to go up. And, with higher property values come higher property taxes.

That's the situation in which Goode now finds himself. He received a tax assessment from the county that raised the value of his property from $34,240 in 2022 to $271,040 in 2023, he told NBC News' Antonia Hylton.

At first, he thought that his whopping 657% tax increase was an error. But then he realized that it was part of a broader trend — one he finds maddening.

"There's somebody stroking a piece of paper with a pen apathetically, unconsciously, [who] has no connection to the service that we provide to the city," Goode said.

In a statement to NBC News, Jackson County said that Goode's increase was “fair and reasonable”, and that state law requires the county to assess properties every two years. The county also claims that aligning property values with the market helps address historical systemic inequities.

Goode now has a $60,000 tax bill he says he can't afford. His only recourse may be to try to fight his assessment to get it lowered.

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What to do if your property tax bill increases

Whether you own a home or a commercial property, whenever your area undergoes a new tax assessment, you are at risk of seeing your tax bill increase. That's because your property tax bill is calculated by taking your property's assessed value and multiplying it by your local tax rate.

The frequency of tax assessments depends on your location. In some counties, assessments could happen as often as every year.

It's not possible to appeal your property tax rate, but what you can do in a situation like the one above is appeal your property tax assessment. The process of doing that varies by county, though.

In some areas, you may be able to complete the appeals process online. In other areas, you may have to appear in court to appeal your property tax assessment.

You'll also need to check to see what the deadline is for appealing a tax assessment in your area. Your local tax assessor's office should have that information.

To successfully appeal a tax assessment, you'll need to prove that the value of your property is lower than the amount the assessor thinks it is. That can be tricky in situations where property values around you have risen, as in the case above.

Generally, to win a residential appeal, you'll need to find homes that are similar in size and condition to yours that have sold for a lower price within the past 90 days.

So, as an example, say your home is assessed at $450,000. If you can find three similar homes within a few blocks that have sold for, say, $380,000 to $390,000 over the past three months, you may have a good chance at winning an appeal.

But, if you can't find any homes that have sold for considerably less, you may be out of luck. And while you could hire your own appraiser, or even an attorney, to appeal your property tax assessment, without comparables, you may not be successful.

Now, if you win your appeal and your property's assessed value is lowered, it should result in a lower property tax bill. But if you're unsuccessful, you may have no choice but to cover the larger bill.

Unfortunately, failing to pay your property taxes could have dire consequences. Once you become delinquent on property taxes, your county can place a lien on your property. From there, if you don't pay off your debt, it could eventually lead to foreclosure.

If you're stuck with a property tax bill you can't afford to pay, it's a good idea to consult an attorney. They can walk you through your options and potentially help you to find a solution that doesn't involve you losing your property.

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Maurie Backman Freelance Writer

Maurie Backman is a freelance contributor to Moneywise, who has more than a decade of experience writing about financial topics, including retirement, investing, Social Security, and real estate.

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