An appraised value is the amount that the home would be expected to bring in a competitive market. In other words, the fair market value. A private appraiser is utilized to determine this value.
An assessed value is a percentage of the homes monetary value that is used for the purpose of calculating the amount of taxes due. An assessed value is often determined by the County Assessors office by utilizing comparable home sales in the area.
All taxable real and personal property within the District is assessed annually by the County Assessor. Missouri law requires that Residential real property be assessed at 19% of true value.