With a recommendation from Superintendent Dr. Kyle Kruse, the St. Clair School Board voted to keep the 2020-21 tax rate the same as the 2019-20 year.
“We actually could charge 7 cents more and 52 cents in debt services if needed,” Kruse told The Missourian, “But we are voluntarily keeping it the same.”
The current tax rate for the district is set at 2.25 cents per $100 assessed property taxes for the incidental fund; the teachers’ fund is set at .70 cents; the capital projects fund is set at .25 cents; and debt services at .4205 cents. The combined total of all funds equals to a tax rate of 3.82 cents.
Due to an increase in real estate and personal property owned in the St. Clair area, district officials expect to see more than $5.6 million collected in the upcoming year.
Tax rates on local property are established to produce the revenues for the budget for the fiscal year, beginning July 1.
According to the tax rate hearing notice, revenue is determined by dividing the assessed valuation by 100, multiplying the proposed rate, and multiplying the anticipated collection rate of .9380.