Required under state law, St. Louis County and City undergo property tax reassessment every odd year. If you are a homeowner that resides in St. Louis City or County, you may have received a letter stating your property tax has risen due to the subsequent increase in your property’s market value. If you believe the updated valuation is inaccurate, below is crucial information regarding the tax appeal process for St. Louis City and County, respectively.
"Based on recent sale prices, most homes in the City are worth up to ten percent more than they were since our last reassessment in 2021, and some are even higher. That means for most homeowners, if you were to sell your home today, it would be worth more than it was two years ago."
St. Louis and the surrounding regions have experienced an increase in values over the past few years. The County and City assessments are both reflecting the trends of the overall real estate market. Per the County Assessor, the median price for single-family homes was 192,000 in 2021, now that figure rests around $222,300, a shocking 16.9% increase. So while the new tax assessment may be alarming, most of these increases have merit. But if you do believe your property has been inaccurately valued, here are the options for appealing depending on if you reside in the City or County.
St. Louis City
The City assessor utilizes a mass appraisal system to value the real estate, which is then compared to recent comparable sales for accuracy. However, if there are any inaccuracies within the reassessment value, the City Assessor is committed to ensuring each parcel property reflects the fair market value and welcomes all appeals.
If you feel the City assessor has not accurately valued your property, you are able to informally appeal from May 1st through June 23rd. During this process, you should gather any evidence to support the change in the opinion of value (see below for a list of helpful evidence). The assessor will then review and consider the provided evidence. If you are not satisfied with the results of the informal appeal, you have the right to appeal to the Board of Equalization by July 10th.
St. Louis County
St. Louis County preliminary values are now available on their Real Estate Information page. Homeowners should search for their property within this database and verify that their property characteristics are correct. While the early review program has ended (April 1st-30th), you are still able to submit a formal appeal to the St. Louis County Board of Equalization. Appeals can be filed from May 1st through July 10th. For more information regarding the appeal process, please visit the board’s website.
Some helpful evidence to support your appeal may include:
- A recent sales contract
- An appraisal performed by a licensed real estate appraiser
- Sales of comparable properties
- Photographs of any defects
- Estimate for repairs (detailing structural or condition issues including costs to repair)
- Income and expense information (multi-family)
Important Note:
If you suspect the assessor has valued your property incorrectly and decide to appeal, you should first consult an attorney who specializes in tax appeal. They will be able to help guide and represent you throughout the process.
A comprehensive appraisal lays the groundwork for a strong appeal. If you and your attorney deem an appraisal necessary, Wynn Appraisals offers tax appeal appraisals that are extensive, backed by data, and reliable. A quality report you can rely on. Quick turnaround and hassle-free will always be the Wynn Guarantee!