The financial well being of Jefferson County is sweet, if the outcomes of a current reassessment of actual property and private property is any indication.
Jefferson County Assessor Bob Boyer stated his workplace’s work over the previous couple of months reveals that actual property within the county has elevated in worth by 10.5 p.c during the last two years.
“That reveals Jefferson County is rising,” Boyer stated.
The assessed valuation of the county – the full of all actual property within the county’s 664 sq. miles – is $3.91 billion this yr.
Whereas the continued development in the true property market – through which many properties are promoting for greater than the marketed value – is powering a few of that enhance, different elements are at work.
“We’re seeing that the variety of individuals shifting from the town and St. Louis County to Jefferson County is on the rise, primarily to get away from the crime and the draconian well being orders,” Boyer stated. “Persons are selecting to come back right here to work and lift their households.”
Boyer stated 13,421 deeds to property had been transferred in 2020, and on the midpoint of 2021, one other 5,843 gross sales had been recorded, up 6 p.c from the midpoint in 2020.
Boyer stated one other good omen is that to this point throughout 2021, 602 newly constructed properties had been added to the evaluation rolls, up 16 p.c from the identical time in 2020.
“Jefferson County is rising, and never simply within the northern half,” Boyer stated. “We’re seeing new housing begins within the Hillsboro space, alongside the I-55 hall and likewise on the west aspect of the county.”
Boyer acknowledged that development is just not essentially welcomed by everybody.
“I nonetheless suppose development is a constructive factor,” he stated. “Should you’re capable of unfold the tax obligation out to extra individuals, that’s what you need to do. It’s a very good factor for everyone.”
Regarding the reassessment of non-public property – principally autos – Boyer’s workplace reported a 12.7 p.c enhance, however he stated he believes that uptick could also be a product of the pandemic.
“I believe we will all agree that 2020 was not a typical yr,” he stated. “There was COVID, in fact, and the stimulus funds and rates of interest had been lower.
“Whereas some individuals used these stimulus funds to satisfy their bills, many individuals went out and made down funds on autos – and a few with the next price ticket than they usually had been out there for.
“Gross sales of sports activities vehicles had been up significantly, and lots of people purchased vans, campers and SUVs,” Boyer stated.
Boyer stated the state requires county assessors to set the worth of autos in accordance with the Nationwide Vehicle Sellers Affiliation’s (NADA) October Commerce-In Worth Information.
“We’re sure to observe the numbers that NADA provides us, and we checked with different counties within the space – St. Louis County, Franklin County and St. Charles County – and so they’re all seeing the identical factor.”
Boyer stated usually, car values depreciate over time, however the market during the last yr – which additionally has pushed up the costs for a lot of used vehicles – has created what he sees as an anomaly.
“There shall be some individuals, particularly these with the higher-end autos and vans and recreation autos – who might even see will increase within the property taxes when the payments are despatched out later this yr – however most individuals won’t. Their autos will depreciate over time as they at all times have.”
State legislation guards towards tax windfall
That results in the message that Boyer needs to emphasize.
“Simply because the assessed valuation has gone up, that doesn’t imply your taxes will. Folks will see that the county’s assessed valuation is up 10.5 p.c and assume that their taxes will go up by the identical quantity. That’s not the way it works.
“First off, the Assessor’s Workplace doesn’t set the tax charges. Your faculty district, your hearth safety district and all the opposite taxing districts do. By legislation, all of the Assessor’s Workplace does is repair the worth of taxable property.
“When the districts set their tax charges for 2021, they’ll’t herald a windfall of taxes over the earlier yr. They plug their numbers right into a components the state makes use of and, by the Hancock Modification, can’t carry in additional than the Shopper Value Index for the yr permits them to.
“However should you’re involved about how your tax cash is being spent, take note of how your faculty district, your hearth district, your ambulance district, is spending it.
“Our job is to set a price to your property that’s honest,” he stated.
He stated he believes his workplace is doing simply that. He stated his workplace, by legislation, despatched out notices to 90,000 actual property house owners that the assessed valuation of their land had elevated during the last two years by at the very least $1.
He stated solely 125 of these house owners appealed their appraisal to the county’s Board of Equalization.
“Most of these had been filed by skilled tax attraction firms on behalf of business chains, who file appeals in all places they’ll in an effort to cut back a line merchandise on their purchasers’ price range,” he stated.
Boyer stated solely a couple of dozen of these 125 had been filed by householders, and that, with the vast majority of the 125 appeals already heard, solely three have resulted in an adjustment within the assessed valuation.
“Evaluate that to St. Louis County, which hears 1000’s of appeals that take months to get heard,” he stated. “We attempt to appraise conservatively and pretty.”
For extra info, name the Assessor’s Workplace at 636-797-5466 or ship an e mail to email@example.com.