St Louis News: 2019 Reassessment Nearing Completion

Property values up across the City of St Louis

St Louis, MO (STL.News) – The following statement was released by St. Louis Mayor Lyda Krewson yesterday regarding 2019 Reassessment:

It is the duty of the Assessor’s Office to assess all City property fairly and accurately. Under Missouri law, the City Assessor’s Office is required to conduct reappraisals every odd-numbered year for all real property within St. Louis City limits.  The state constitution requires the value placed on the property reflects fair market value.

After thorough review, the Assessor’s Office has completed its 2019 reassessment.  “Residential property values in the City have increased about 12 percent on average since our last assessment in 2017,” Dauphin said.  “That means for most homeowners, if you were to sell your home today, it would be worth more than it was two years ago.  Commercial properties saw an increase of about 4% on average.”

“The City has over 140,000 real estate parcels and we are committed to making sure each parcel is valued in line with the market,” Dauphin said.  The Assessor’s Office uses a mass appraisal system to value real estate and then compares the results with recent real estate sales.

State law requires assessors to notify all property owners of any increase in property values.  The notices also required an estimate of the taxes that will result from the change in assessed value and expected change in tax rates.

“As a longtime City homeowner, I find the trend of increasing property values encouraging,” Dauphin said.  “It falls in line with the overall economic growth we have seen in the City, and region, over the last two years.”

Any citizen may access their assessment information on the City’s website by searching their address or parcel number.

We strive to get all values right, if you do not agree with the value placed on your property you have the right to appeal.  For more information on the appeals process visit Property Assessment Appeals.