Home prices dropping but taxes on the rise - KMOV.com

Home prices dropping but taxes on the rise

St Louis (KMOV) -- The National Association of Realtors says home prices in the metro area have fallen four percent from November 2008.

The median home price is now $136,000, which is down $12,000 from three years ago.

This month, homeowners in St. Louis County will get tax bills in the mail and find out what the county assessor thinks their homes are worth.

"They'll come running and yelling to us," said Eugene Leung.

As director of the Department of Revenue, Leung is already bracing for when homeowners come running to his office.

Leung says many should not be surprised if they end up having to pay more than last year.

Leung says don't blame him, it's just his job.

"We're the messenger," he says. "They don't know there's too many faces. There are 249 taxing districts we collect for."

It's those districts, Leung says, that can make homeowners lose their cool. The biggest taxing districts that most likely hiked their rates are school districts.

For many homeowners, it could be a double whammy in the mail, seeing their home values drop and tax bills rise.

The bills should be in mail boxes starting Thursday.

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