How are property values determined?
Property values are determined after a careful review of the actual real estate market throughout St. Francois County. To ensure that all property owners are treated fairly and equitable, the Assessor's Office is required to study recent sales, current construction costs, and submit quarterly market analysis studies to the Missouri State Tax Commission.
How often is my property assessed?
Missouri law requires that every odd numbered year all Assessor's must review each parcel within their county and adjust the appraised value to reflect the current market value. By law, the Assessor is required to appraise each parcel at market value. New construction is appraised on an annual basis as of January 1st of the tax year.
What is appraised value?
Appraised value is the actual value in dollars of the property if it were sold on the open market.
What is assessed value?
Assessed value is a percentage of the appraised value. The assessment percentage is set by state law and governed by the Missouri Legislature. Residential property is assessed at 19%, commercial is at 32%, and agricultural is at 12% of the appraised value.
Example: $100,000 appraised value x 19%(residential)=19,000 assessed value
What if I do not agree with my value?
If you feel the value does not reasonably represent the value of your property, you must first contact the Assessor's Office to review the information on file. If after reviewing the property with the Assessor's Office you still do not agree with your value, you may make an appointment with the St. Francois County Board of Equalization. The Board of Equalization meets beginning the second Monday in July of each year. The Assessor's Office will assist you in making an appointment with the Board of Equalization. If you are still dissatisfied after the meeting with The Board of Equalization you may then appeal the value to the Missouri Sate Tax Commission.
Do senior citizens qualify for any kind of tax relief?
Yes, there is a tax credit available to senior citzens and individuals that are 100% disabled. Contact the Assessor's Office for names and locations of organizations that offer free tax help to those who meet the state requirements to be eligible for this credit.