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August 20, 2009 FY 2009/2010 Tax Levy. Special Administrative Board of the Transitional School District of the City of St. Louis, as a political subdivision,

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Presentation on theme: "August 20, 2009 FY 2009/2010 Tax Levy. Special Administrative Board of the Transitional School District of the City of St. Louis, as a political subdivision,"— Presentation transcript:

1 August 20, 2009 FY 2009/2010 Tax Levy

2 Special Administrative Board of the Transitional School District of the City of St. Louis, as a political subdivision, is authorized to set tax levies Public notice must be posted one week prior to public hearing Tax levies are set annually Proposed tax rates must be submitted to the State Auditor by Sept 1 st (certification) FY 2009/2010 Tax Levy

3 Points of interest: 2009 was a reassessment year Net $10.8m decrease in real estate assessment $25.7m assessment decrease $14.9m new construction $10m increase in personal property $31m ( 20%) increase in TIF assessments $155m to $186m FY 2009/2010 Tax Levy

4 The tax levy should be apportioned as follows: $0.0000Teachers Fund Incidental Fund.0000Capital Projects Fund.6211 Debt Service Fund $3.8943*Per each $100 of assessed valuation * As reviewed by State Auditors office FY 2009/2010Tax Levy

5 Prior year tax rate: $ Teachers $ Incidental $ Capital $ Operating $ Debt $ Total rate Proposed tax rate: $ Teachers $ Incidental $ Capital $ Operating $ Debt $ Total rate $0.0915

6 Why is there a $ increase in the tax rate? New revenue allowed for new construction and improvements And the decrease in assessed values from last year General operating voter approved tax rate ceiling $3.75 vs. maximum allowed $ The proposed rate is $ below the voter authorized ceiling FY 2009/2010 Tax Levy

7 Special Administrative Board: Approval of Resolution to Set Tax Rate

8 Appendix

9 FY 2009/2010 Tax Levy


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