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Board Approves Lowest Possible Residential Tax Rate for 2022
Sept. 16, 2022
The Lindbergh Schools Board of Education voted on Sept. 15 to approve a 2022 blended tax rate that includes the lowest possible residential tax rate in the state of Missouri. The board voted 6-0 to approve a blended tax rate not to exceed of $3.9322 per $100 of assessed valuation for 2022, an increase from the 2021 blended tax rate, which was $3.8276. (Board Secretary Megan Vedder was not in attendance.)
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. This year is a non-reassessment year, which means property owners do not receive updated assessed values for their homes and businesses.
Lindbergh Schools’ residential tax rate is as low as state law will allow, at $2.75 per $100 assessed valuation.
2022 Lindbergh Schools Tax Rates
- 2022 Operating Tax Rates
- Residential Real Estate: $2.7500 (no change)
- Agricultural Real Estate: $2.9124 (increase of $0.0308)
- Commercial Real Estate: $3.6847 (increase of $0.3479)
- Personal Property: $3.6944 (no change)
- 2022 Debt Service Levy: $0.8330 (no change)
- Total Blended Tax Rate: $3.9322 (increase of $0.1046)
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 $3.9322 is an increase of $0.1046 from the 2021-22 school year.
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. This 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 2022 is $1,740,479,180; and the revenue generated for the district, based on 97.5% collection, is $62.7 million.