KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar BluffProperty taxes: Calculating your home's value

Property taxes: Calculating your home's value

Posted: Updated:

By Crystal Britt - bio | email

CAPE GIRARDEAU, MO (KFVS) - It's that time of year, you've probably received that property tax bill in the mail.  Have you figured out what your home's value is these days?

If not, we have the formula plus the latest on home appraisals during these tough economic times.

This year, it's not just the taxes people are nervous about, but their home's value.

"Market values are down on property, real estate properties are definitely down from a year or two ago, no question about that, " said Ken Puchbauer, Community Bank President for Montgomery Bank. 

It's something felt by lenders, realtors, appraisers, and you the home owner, especially for those looking to sell.

"We're seeing some statistics that there is some mild recovery, it's going to be a long winter though," said Puchbauer. 

As you prepare to pay those taxes this winter, here's something you may not know: the formula for figuring out exactly what your assessor's office has down as your home's worth.

In Cape Girardeau County, tax payers will see a number that represents assessed value.

"On residential property (it represents) 19 percent of value, commercial is 32 percent, agricultural is 12 percent of value," said County Assessor Jerry Reynolds.

To figure that out, Reynolds says you take that assessed valuation number, and divide it by .19 if it's a residential property.

Reynolds says don't get discouraged if you don't like the number.

"I don't think values are down here like in some metropolitan areas, but at the same time through the years we've seen things go up, but haven't seen the tremendous rises other areas have seen," said Reynolds. 

Local lenders have seen some positive changes over the last six months.

"We saw some nice sales activities this summer. The multi list server in Cape Girardeau had the actual number of sales and the average sale price was up this quarter quite nicely," said Reynolds. 

The higher end homes are seeing a dramatic loss in value, the middle of the road homes like the $150,000-$200,000 properties seem to be fairing better.

Jerry Reynolds who's served as assessor for more than three decades offers this hope, "Prices of real estate as long as I've been around have gone up."

©2009 KFVS. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

You must be logged in to rate this story. Login or register
Comments
Terms of Use: We welcome your participation in our community. Please keep your comments civil and on point. Notify us of any inappropriate comments by clicking the “Mark as Offensive” link. You must be at least 13 years of age to post comments. By submitting a comment, you agree to these Terms of Service
You must be logged in to leave a comment. Login or register
See all comments
Close windowBranding

Property taxes: Calculating your home's value

Close window

Most Popular Stories

Man want to erect Ten Commandments monument in Marion Video included

Updated:

A Marion man wants to erect a religious monument in downtown Marion on the town square.

Body of teen found in creek identified, name released Video included

Updated:

The Perry County Sheriff's Department is investigating the body of a teen girl found in a creek Sunday near Pinckneyville as a homicide.  The grandmother says authorities identified her by her jewelry and clothing.

Relatives of missing Malden family still looking for answers Video included

Updated:

They've been missing now for two weeks, and still no sign of a Malden family who disappeared July 14th.  Family and friends are growing more and more fearful with every passing day.

Two people arrested in death of Pinckneyville teen Video included

Updated:

Two people are behind bars charged with the death of a Perry County Teen.

Teen accused of murder enters not guilty plea Video included

Updated:

A 17-year-old girl accused of running over another teen pleaded not guilty Wednesday in court.

Family mourns the loss of murdered teen

Updated:

It's a terrible loss for a Heartland family, as investigators try and piece together the final hours of 15-year-old Sidnee Stephens's life.

Man gets 25 years for prostituting young Mo. girl

Updated:

A former western Missouri man has been sentenced to 25 years in federal prison for prostituting his girlfriend's young daughter.

Two arrested on drug charges in Scott City

Updated:

By Heartland News SCOTT CITY, MO (KFVS) - Two Scott City residents face drug charges after an undercover investigation. Vicky Bailey, 54, faces three counts of distribution of a controlled substance.

StormTeam Graphics - NexRad

Check out an animating verison of Heartland NexRad. The page is intended for broadband users only. The Heartland NexRad image is updated approx. every 15 minutes. If you are using Internet Exlorer

StormTeam Graphics - Digital Doppler

The StormTeam Digital Doppler image will be updated approx. every 5 minutes. This is a screen capture of what the StormTeam is looking at. So from time to time, the image might be zoomed in on different

Powered by WorldNow
All content © Copyright 2000 - 2010 WorldNow and KFVS12, a Raycom Media station. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.