St Louis MSA Property Taxes For 2019 Was At Same Effective Rate as 3 Years Ago

The average property tax amount in 2019 for a residential property was $2,840, according to the latest data released from ATTOM Data Research.  Based upon the average estimated home value for the St Louis MSA of $211,816, this works out to an effective property tax rate of 1.34% which is slightly less than last year’s effective rate of 1.36% and is the same as the rate of 1.34% in 2016.

St Louis MSA Effective Property Tax Rates – 2016 – 2019

St Louis MSA Effective Property Tax Rates - 2016 - 2019

Data source: ATTM Data Solutions – Copyright 2020 -has St Louis Real Estate News

How To Appeal Your Property Tax Reassessment

If you are a homeowner, then during the past week or so you probably received a change of assessment notice from your county assessor informing you of the Assessor’s new assessment of the value of your property.  While most people purchase a home with the expectation of it going up in value and, generally, are excited when they find out it has increased in value, this is not one of those occasions.  An increase in the Assessor’s opinion of your property value generally results in just one thing…a higher property tax bill.

What can you do if you don’t agree with the property reassessment on your property?

Fortunately, you do have options, including the ability to appeal the property reassessment if you feel it is high. Depending on the county the property is located in, you may even be able to do so by means of an informal conference that can easily be scheduled by phone.  However, there are deadlines, so you must act fast.  Even if you live in a county that doesn’t offer an informal hearing, or you don’t like the outcome of the informal hearing, you can appeal to the Board of Equalization.  Then, if you don’t like the outcome of the Board of Equalization, you can appeal the assessment to the State Tax Commission as well.  While this may sound a little overwhelming, the process really is not too bad.

Below are links to a couple of great property reassessment appeal resources that will walk you through the process as well as provide you with helpful phone numbers, links, tools, resources and more:

Which State Has the Lowest Property Tax Rates?

Missouri falls in about the middle of the states in the U.S. in terms of real property taxes based upon the effective rate.  As the first table below shows, Missouri, with an effective property tax rate of 1.04% in 2018, comes in at the 27th lowest state.  Hawaii is at the top of the list with the lowest effective tax rate at 0.37% and New Jersey comes in last with the highest property tax rate at 2.25%.  Right behind New Jersey, is our neighbor to the east, Illinois, where the effective property tax rate is 2.22%, over twice as high as Missouri.

Property Tax Rates In St Louis County Highest In Area – Over Fifty Percent Higher Than Some Neighboring Counties

Real property tax rates in St Louis County effectively cost homeowners in that county about 1.43 percent of the value of the home which is 57 percent higher than Jefferson and Franklin counties were property taxes cost homeowners about .91 percent of their homes value.  In St Charles County, property taxes are about 1.34 percent of the homes value.

Effective Real Property Tax Rates In St Louis*

St Louis Property Taxes vs St Louis Home Prices*Median real estate taxes paid and median home price based upon U.S. Census Data from the 2013 ACS Estimates
 

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Continue reading “Property Tax Rates In St Louis County Highest In Area – Over Fifty Percent Higher Than Some Neighboring Counties

One in four homeowners have challenged their property taxes

Dennis Norman St Louis RealtorAs we watch the values of our homes drop, we would expect to see our county assessor’s valuations drop as well, resulting in lower property taxes. However, that is not the case in many counties as homeowners find their homes being valued higher by assessor’s than the market value is. Well, according to a survey conducted by FindLaw.com, one in four homeowners are doing something about it and challenging the assessed value of their homes. The good news? According to the responses, the majority who did so say they were successful in lowering their tax bills! Continue reading “One in four homeowners have challenged their property taxes

St. Louis Real Estate – St Louis area home price declines vs assessors property values

Dennis Norman
Dennis Norman

In an article this morning on StlToday.com I saw where property values, as determined by the St. Louis CountyAssessors office, declined 6.1 percent from 2007 to 2009.   Hmm, I thought, that sounds pretty good actually, I think the St. Louis housing market would be doing great if that was close to reality.  To see how the actual St. Louis housing market did during the same period I researched the sales prices of homes sold in the St. Louis metro area in 2007 and 2009 then computed the change in value during the period. Continue reading “St. Louis Real Estate – St Louis area home price declines vs assessors property values