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Finance Committee Update: Sept. 13, 2022

Sept. 13, 2022

During this month's Finance Board Advisory Committee, Chief Financial Officer Joel Scheible discussed how the district sets the tax rate each year. This year's tax rate hearing is on Sept. 15, 2022.

Scheible shared what factors affect a school district's tax rate, including but not limited to voter-approved bond issues, assessed valuation of real and personal property, new construction, the Hancock Amendment, Consumer Price Index, and property reassessment (odd number years only). The proposed blended tax rate not to exceed of $3.9322 per $100 of assessed valuation for 2022, would be an increase from the 2021 blended tax rate, which was $3.8276. It would also include the lowest possible residential tax rate in the state of Missouri, which is $2.75 per $100 assessed valuation.

The Finance Advisory Committee exists to ensure transparency, accountability and efficiency in district finances. Committee members will discuss areas covered by the district’s fiscal management policies. In addition, the Board of Education will direct the specific responsibilities of the committee to review any matters potentially having a significant impact on district finances before the board takes action.