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Tuesday, 19 March 2013 16:30

Property values drop in St. Louis County

CLAYTON, Mo. (AP) — Preliminary reassessment figures show that the median value of a residential property in St. Louis County declined 7 percent over the last two years.

County Assessor Jake Zimmerman released the figures Monday. The St. Louis Post-Dispatch reports that many properties in areas with high levels of foreclosure sales are down 12 percent or more.

St. Louis County reassesses property every odd-numbered year.

Assessments increased for residential properties in only one school district — 0.4 percent in Clayton. The biggest drop was in the Riverview Gardens School District — 24 percent.

Zimmerman says sales volumes are picking up and the real estate market appears to be recovering.

The values are preliminary and could be changed by the assessor's office until July 1.
Published in Local News
Home values in St. Louis County appear to be sliding in the wrong direction.

The county reassesses property values during odd-numbered years. The last full assessment was in 2011, when residential values slid four percent. STL County reassessment lowers property values On Monday, County Assessor Jake Zimmerman released some preliminary reassessment figures that indicate that the slide has continued. The figures show median home values have dropped another seven percent since 2011 - with homes in high-foreclosure areas losing 12 percent of their value or more.

Home values rose in only one school district -- Clayton, with declines ranging from 0.2 percent in Kirkwood to 24 percent in Riverview Gardens. STL County reassessment lowers property values Commercial property values appear flat across most of the county.
Published in Around Town
Home values in St. Louis County appear to be sliding in the wrong direction.

The county reassesses property values during odd-numbered years. The last full assessment was in 2011, when residential values slid four percent. STL County reassessment lowers property values On Monday, County Assessor Jake Zimmerman released some preliminary reassessment figures that indicate that the slide has continued. The figures show median home values have dropped another seven percent since 2011 - with homes in high-foreclosure areas losing 12 percent of their value or more.

Home values rose in only one school district -- Clayton, with declines ranging from 0.2 percent in Kirkwood to 24 percent in Riverview Gardens. STL County reassessment lowers property values Commercial property values appear flat across most of the county.
Published in Local News
Although the housing market may be picking up, assessed home values in St. Louis are expected to decline for the third time in a row.

St. Louis County's first elected assessor, Jake Zimmerman says preliminary computer models show values dipping slightly. Zimmerman told the St. Louis Post-Dispatch that human assessors may tweak the figures after examining individual homes.

He says anyone whose assessed property value increases will be notified by mail right away so that there's plenty of time for an appeal before the bills go out in the fall.
Published in Local News

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