Property Valuation & Assessment

Market Value
Simply stated, market value is the most probable price in terms of money that a property will bring in an open and competitive market. Not all sales are consummated at market value, but the intent of the Assessor is to estimate the fair market value of each property in St. Charles County as of tax day as required by law. The value assigned by the Assessor’s Office should represent fair market value as of January 1 of the tax year.

The only properties not valued at market are agricultural properties which are valued in soil productivity grades.

Assessment of Your Property
Missouri law requires a re-evaluation of property values every 2 years (each odd year). The purpose of this reassessment is the equalization among taxpayers, as well as adjusting any values to better reflect current market conditions as of the tax date. New construction is added on an annual basis.

General economic conditions such as interest rates, inflation rates, supply and demand, and changes in tax laws will influence the value of real estate. As property values change in the market place, those changes must be reflected on the assessments.

The Assessor does not create the value, but rather interprets the real estate market.

You should first attempt to do your own calculation of what your property is worth. This can be accomplished using recent comparable sales in your area, comparing assessments of similar properties, and reviewing the replacement cost of property in your homeowners insurance (the land is usually not included in the replacement cost). Sales and assessment information is available in the Assessor’s Office or via the Property Database.

Value of Your Property & Amount of Taxes You Pay
The market value of your property is multiplied by the statutory level of assessment. Residential property is assessed at 19% of market value, agricultural at 12%, and commercial and all other at 32%. This assessed value is then multiplied by the tax rate (per $100) for your particular area.

Though the value of your property affects your share of taxes, the actual amount you will pay is not established until October 31. It will be determined by the budget needs of the taxing jurisdictions i.e. school, city, fire district(s) etc. The taxing jurisdictions decide what services they will provide in the coming year and how much money they will need to provide those services. Once this decision is made, a tax rate is adopted that will generate the needed dollars. This rate is then applied to the individual assessed values and tax bills are generated.

The value of your property is subject to change every 2 years (excluding new construction) however, your tax rate (established by the taxing jurisdictions) is subject to change annually.

The Assessor is not responsible for establishing the tax rate for any taxing jurisdiction.