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'Blended' tax rate for Mehlville School District drops 29.94 cents from last year

August 31, 2005 - Staff Report

A "blended'' 2005-2006 tax rate of $3.6526 per $100 of assessed valuation — down 29.94 cents from last year — was approved last week by the Mehlville Board of Educa-tion.

The Board of Education voted unanimously Aug. 25 to approve the 2005-2006 tax rates. No one spoke during a public hearing conducted on the proposed tax rates.

The tax rate will decrease because the school district's total assessed valuation increased roughly 12.5 percent or $172 million, primarily as a result of reassessment.

Residential assessed valuation increased $136 million, commercial assessed valuation increased $35 million and personal property assessed valuation increased $705,000.

The Hancock Amendment limits the amount of revenue taxing entities can re-ceive from increases in real estate values due to reassessment to 5 percent or the Con-sumer Price Index, whichever is less.

No one actually will pay the blended tax rate because it is a combination of four tax rates. This is the third year that St. Louis County taxing entities have been required to calculate separate tax rates for residential property, commercial property, agricultural property and personal property.

The four rates approved by the board for 2005-2006, including debt service, are: residential property, $3.5893; commercial property, $3.6112; agricultural property, $4.0930; and personal property, $3.9678.

The previous year's blended rate was $3.952 per $100 of assessed valuation.

The four rates for 2004-2005 were: residential property, $3.9009; commercial property, $4.13; agricultural property, $4.13; and personal property, $4.0037.

By fund, the 2005-2006 tax rates are: special, $1.6750; general, $1.1490; capital, 48.86 cents; and debt service, 34 cents.

By fund, the 2004-2005 tax rates were: special, $1.8110; general, $1.17; capital, 59.1 cents; and debt service, 38 cents.

For the 2004-2005 school year, the blended rate of $3.952 totaled 7.7 cents more than the previous year due to a de-crease in assessed valuation totaling roughly 1.6 percent or $21.8 million.

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