Video Information
From: Rockwood School District
Rating (2 votes):
Added: 04-06-2009
Description:
The Rockwood School District has estimated its 2009 tax rate at $3.9972 - an increase of less than two percent from last year's tax rate of $3.9232. Even with this estimated increase, the average residential taxpayer would pay about $100 less in real property taxes to the school district in 2009 than they did in 2008. This is because of an average decline in residential property values of 7.5 percent due to reassessment. The 2009 estimated tax rate includes an operating tax rate of $3.3172 and a debt service tax rate of .6800. According to David Glaser, Rockwood's chief financial officer, the district reduced its tax rate 71.02 cents from 2004-2008. "We decreased the tax rate as assessed values in residential property rose in St. Louis County in previous years." In addition, Rockwood voluntarily lowered its debt service rate in 2008 in response to the increase in assessed values from new construction, early 7 cents pay-off of Chesterfield Valley TIF and increasing property values. "Rockwood is sensitive to the challenging financial times our taxpayers are facing," notes Glaser. "The district is making the necessary and difficult decisions to reduce spending in this current economic climate. The school district has already reduced the 2009-2010 operating budget by $5.3 million, with contingency plans in place if further budget reductions are needed." Senate Bill 711 requires school districts to project an estimated non-binding tax rate before April 8 in order to provide taxpayers information on how changes in their assessed values affect their annual tax bill. A public hearing will be held in September 2009, at which time the actual 2009 tax rate will be approved. These actual rates will consider additional information not currently available -including current personal property assessed values, as well as any reductions in real property assessed values resulting from property assessment appeals. 2009 Estimated Tax Rate $3.9972 2008 Actual Tax Rate 3.9232 2007 Actual Tax Rate 3.9987 2006 Actual Tax Rate 4.4177 For more Rockwood finance information, read the Economic Update 2009 at www.rockwood.k12.mo.us/departments/finance/economicupdate.htm .
Categories:
Tags:
Media ID: 28780
More Videos
Playing
Related Tags
