The appraised value of a home is the amount it is expected to sell for in a competitive market, reflecting its fair market value. This value is determined by a private appraiser who evaluates the home based on various factors, including its condition, location, and comparable sales in the area.

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In contrast, the assessed value is a percentage of the home's monetary value used to calculate property taxes. This value is typically determined by the County Assessor's office, which also considers comparable home sales. In Missouri, residential real property is assessed at 19% of its true value.

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All taxable real and personal property within the District is assessed by the County Assessor, ensuring that property taxes are calculated fairly and consistently. Understanding the difference between these two values can help homeowners better navigate their property taxes and the real estate market.