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Board of Education Approves Tax Rates for 2020

Sept. 23, 2020

The Lindbergh Schools Board of Education authorized a very slight increase of the district’s blended tax rate during its annual tax rate hearing on Sept. 22. The board voted 7-0 to approve a blended tax rate of $4.0309 per $100 of assessed valuation for 2020, an increase of $0.0087 from the 2019 blended tax rate of $4.0222.

“This is a non-reassessment year for real estate, so the change in our total blended rate was minimal,” said Chief Financial Officer Joël Cracchiolo. “The local tax revenue generated by this total blended rate meets the estimated revenue in our 2020-21 budget.”

2020 Operating Tax Rates

  • Residential Real Estate - $2.8717 (decrease of $0.0019)
  • Agricultural Real Estate - $2.4600 (decrease of $0.0008)
  • Commercial Real Estate - $3.7394 (increase of $0.0378)
  • Personal Property - $3.9096 (unchanged)

St. Louis County districts are required to calculate a single blended rate of the above rates, which is only used to compare Lindbergh with other school districts. The blended operating rate of $3.1979 is an increase of $0.0087.

Setting Tax Rates

Missouri’s Hancock Amendment limits a district’s collection of revenue to the lesser of either the property value increases or the rate of inflation. In 2020, a property non-reassessment year, assessed value of property in Lindbergh increased by $5.5 million, or .35 percent.

However, the Consumer Price Index, or rate of inflation, increased 2.3 percent. As a result, Lindbergh’s tax rate growth is limited to actual or .35 percent.

Debt Service

The debt service fund is mandated to be used exclusively for the retirement of long-term debt from voter-approved bonds, such as Prop R, and that rate is also set by state statute. Lindbergh’s debt service levy remains unchanged at $0.8330.

The total assessed value of property in Lindbergh for 2020 is $1,560,548,400. The revenue generated, based on 100 percent collection, is $62,652,412.