It’s that time of year again, property value assessments are underway and the results are looking good this year for St. Louis County.
According to County Assessor Jake Zimmerman, property values have declined or stayed flat for the past four years, but that could change this year.
In some communities, it certainly will for some home owners.
Zimmerman himself went door to door Friday seeking to meet with homeowners whose property value is expected to increase by more than 15 percent over two years ago.
A promising sign, he was visiting homes in Ferguson and Florissant.
There are 75,000 homes in St. Louis County expected to be visited in the coming weeks.
Zimmerman says, the main reason for the property value in Florissant are on the rise is because homes have been selling and people are getting a higher price for them.
“Look around you here, this is a nice neighborhood,” said Zimmerman. “These are nice, well-kept ranch houses and the good news is you can sell one of these houses today, on average, for a little bit more money than you could have two years ago.”
In 2014 civil unrest in Ferguson had more than a few concerned about their property value.
But the big hit came several years prior, when the real estate bubble burst in 2008.
The drop in property value put the Ferguson-Florissant School District in a bind.
“The district did have a decrease in revenue and we looked at everything that we spent money on and looked at ways that we could cut costs, and over the years cut millions in our expenditures,” said Kevin Hampton, a spokesman for the school district.
Zimmerman says, seeing property values increasing in north county is a welcome sight.
“Frankly, it’s great news for neighborhoods and communities,” said Zimmerman.
The final assessment of property values is due in March.
Homeowners should expect to get a letter in the mail.
They are being asked to review that letter carefully and if they have any concerns to reach out to the Assessor’s Office for assistance.
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