The Pros — And Cons — Of Rising Property Values
St. Louis County homeowners were treated to some good news this week: County assessor Jake Zimmerman announced that the typical home value in the area increased by 15 percent since 2017.
“We're seeing increases in values almost across the board,” Zimmerman told host Don Marsh on Friday’s St. Louis on the Air. “For almost everyone living in this region, you can sell your home for more today than you could have sold it for two years ago.”
But rising property values also mean the potential for higher property taxes. Because of this, Zimmerman said it is important for homeowners to make sure that his office accurately describes their homes.
“This is one of those situations where if you see something, say something,” he said. “If we tell you that you have three bathrooms, and you really only have two; if the county is wrong about your house, then down the road that will translate into an unfair assessment.”
Zimmerman emphasized that homeowners should stay up to date with the information his office has on their property online, and call to correct any errors sooner rather than later.
Though some people want to see their home value increase, others simply don’t want to see their tax bill go up. Zimmerman said that his goal is to just get the assessments as close to reality as possible.
“Everybody in this story is both a homeowner and a taxpayer, and the person who thinks they want the value lower today might really want it higher tomorrow,” he said. “What I'd really like to emphasize is that what everyone should want is for us to get it right.”
Listen to the full conversation:
“St. Louis on the Air” brings you the stories of St. Louis and the people who live, work and create in our region. St. Louis on the Air host Don Marsh and producers Alex Heuer, Evie Hemphill, Lara Hamdan and Jon Lewis give you the information you need to make informed decisions and stay in touch with our diverse and vibrant St. Louis region.
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