St. Louis County Alerts Property Owners To Look For Valuation Notices In Their Mail
It's that time of year: Property owners in St. Louis County should start to watch their mailboxes for the annual property valuation notices - officially known as the Notice of Valuation and Classification - which are being sent out in waves over the next few weeks. This statement gives the owner the details about their property classification and the estimated market valuation - the data used to calculate the eventual taxation on the parcel. Officials note that more than 150,000 total parcels exist in the county, so due to the volume, the cards will be send out in a staggered fashion - i.e. some people may have already received them, while others won't see theirs for a few weeks.
What should you do with the mailing when you receive it? St. Louis County officials recommend going over the details listed to look for inaccuracies or other problems. Any questions or concerns should be directed first to the County Assesor's Office. The contact information for this office is included on the notice. The Assessor's Department will review concerns brought to their attention and can provide an explanation of how the valuation amount was determined.
Property owners who have talked with the Assessor's Office and still have concerns are open to appeal the notice. The county offers that "[d]ue to ever-changing restrictions and precautions surroundng COVID-19, Local Board of Appeal and Equilization (LBAE) meetings may again be held differently this year. The schedule and latest information can be found on the county's website [click here]".
Many homeowners will see an increase in the estimated market value of their listed parcels. The county suggests that property owners hold off on thoughts that the increase will automatically raise their property tax amount. The estimated market value is only "an estimate of what the property would sell for if offered for sale". Increases in the estimated market value don't necessarily translate into an increase in property taxes. "Assessed values for 2021 are used as the basis for calculating taxes payable in 2022".
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