City Tax Rate Is Up Slightly - The Missourian: Saint Clair

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City Tax Rate Is Up Slightly

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Posted: Tuesday, August 20, 2013 9:00 am | Updated: 12:53 pm, Tue Aug 20, 2013.

St. Clair residents will experience a slightly higher tax rate for 2013.

After a public hearing, the board of aldermen on Monday night during its regular meeting that followed approved an ordinance that established the overall city tax levy at .7024. The rate is broken down into .5353 for the general fund and .1671 for the park fund.

The 2012 tax rate was .6532 divided into .4978 for the general fund and .1554 for the park fund.

The updated figures mean taxpayers within the St. Clair city limits will pay 70.24 cents for every $100 of assessed valuation. Last year, they paid 65.32 cents. The 2011 rate was .6510.

Approving the tax rate is an annual process all municipalities must do by Sept. 1. The information is prepared by Franklin County from information provided by the state.

The intent basically is to provide the same amount of tax revenue from year to year.

“The state provides the breakdown, or assessment, of the tax rate,” City Administrator Rick Childers said during the public hearing. “If the tax value of property is down, the tax rate goes up to offset the loss. If the value goes up, the tax rate decreases.”

According to figures provided by Franklin County Clerk Debbie Door, St. Clair’s total real estate assessed valuation is $47,548,108. Personal property adds $7,980,048. The total assessed valuation therefore is $55,528,156.

The 2012 figures were $49,844,624 for real estate, $9,308,300 for personal property and $59,152,924 overall. In 2011, those numbers were $48,950,805, $8,740,954 and $57,691,759, respectively.

Childers said on Monday that combining new real estate and personal property assessed valuation estimates with the adjusted tax rate will produce almost identical revenue dollars for the city this year when compared to last year.

 As far as the amount of property tax revenues generated through the tax levy, an estimated $294,463 would come into the general fund for 2013 as well as $91,924 into the park fund. That total is $386,387.

Rates are contingent on final assessed valuations and compliance with state laws.

During the regular meeting, Ordinance 1720 setting the annual tax levy unanimously was passed without discussion. There also was no discussion during the public hearing.

According to information provided by the city, the rate is determined by dividing the amount of revenue by the current assessed valuation. The result is multiplied by 100 as the tax rate is expressed in cents per $100 of assessed valuation.

Childers said he received the tax levy information on Friday and decided to add the public hearing and the ordinance to Monday’s agenda at that time.

If the information would have come much later than that, it would have been necessary for the city to conduct the public hearing and follow it with a special board meeting sometime before the end of the month to satisfy state law.

The tax levy addition to the city’s agenda came after The Missourian’s weekend deadline on Friday.

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