Lindbergh Schools has been a destination school district for students, families and teachers for many years, thanks to the strong support of our amazing community. We are grateful for that ongoing support and remain committed to responsibly stewarding our taxpayers’ investment in outstanding academics, operations and facilities.

 

The district has placed Prop R on the April 2, 2024 ballot. Prop R is a $150 million, no-tax-rate-increase bond issue proposal that will support building equity across elementary schools, much needed middle school renovations, safety upgrades districtwide and a K-12 agricultural STEM learning center on the Concord Farmers Club site.

 

How Much Will Prop R Cost?

Prop R is a no-tax-rate-increase bond issue. This means that Prop R would not change the district’s current debt service tax rate of $0.8330 per $100 of assessed valuation of real and personal property. Debt service funds are used to pay for construction improvements and by law cannot be used for day-to-day expenses such as salaries, student transportation or supplies.

 

What is the current total tax rate?

The Board of Education holds a public hearing each September to set the operating and debt service tax rates.  The total tax rate depends on the type of property being taxed. St. Louis County School Districts are required to set four (4) separate operating levy rates. The debt service rate is the same for all categories of property. 

 

2023 Tax Rates:

 

 

*The debt service rate has been .833 since the 2018 tax year.

**Lindbergh’s residential tax rate is the lowest residential tax rate in St. Louis County and the lowest allowed by law in the state of Missouri.  The rate has been at $2.75 since the 2021 tax year. This rate has been rolled back (decreased) over the years to hold taxpayers harmless from the larger increases in local assessed valuation. 

What are the 2023 residential operating tax rates for neighboring St. Louis County Schools?

 

 

How is my property value determined?

The St Louis County Assessor establishes the fair market value of your residential property, in most cases using something called the “Market Approach.” When using the Market Approach, comparable home sales are selected, and adjustments are made for differences in characteristics, such as size, location, age, and condition.

 

Why doesn’t Prop R increase the tax rate?

The combination of increased property values and a decreasing debt amount is what allows the school district to borrow funds without increasing the tax rate.

 

In addition, the district has responsibly paid off and refinanced debt at lower rates when possible. This district’s favorable bond rating also allows access to the bond market at a very low borrowing cost.

 

Historical data shows that property values in Lindbergh Schools continue to grow:

 

Assessed Valuation Growth Rates in Lindbergh Schools 

How are my individual property taxes calculated?

Residential Real Estate Tax Calculation Formula

The current statewide assessment rate for residential real estate property is 19%.

 

To determine how much you owe, perform the following two-part calculation:

 

1. Estimated Assessed Value: Estimated Market Value of the Property x Assessment Rate (19%) = Estimated Assessed Value
   • Example: To calculate taxes owed on a $100,000 residence at $2.75 operating and .833 debt service tax rate per $100 of assessed valuation: $100,000 x .19 (19%) = $19,000
2. Estimated Tax Bill : Estimated Assessed Value / 100 x Total Tax Rate = Estimated Tax Bill
   • Example using $19,000 estimated assessed value:
     • $19,000/100 X $2.75 = $522.50 owed in operating levy taxes.
     • $19,000 / 100 X .833 = $158.27 owed in debt service taxes.

Personal Property Tax Calculation Formula

The current statewide assessment rate for personal property is 33 1/3 %.

 

To determine how much you owe, perform the following two-part calculation:

1. Estimated Assessed Value: Estimated Market Value of the Property x Assessment Rate (33 1/3%) = Estimated Assessed Value
   • Example: To calculate taxes owed on a $30,000 vehicle at $3.6944 operating and .833 debt service tax per $100 of assessed valuation: 30,000 x .333333 (33 1/3%) = $9,999.
2. Estimated Tax Bill: Estimated Assessed Value / 100 x Total Tax Rate = Estimated Tax Bill
   • Example:
     • 9,999 / 100 x .3.6944  = $369.40 owed in operating levy taxes
     • 9,999 /100 x .833  = $83.29 owed in debt service taxes.

Using these formulas, taxpayers can see that an increase in property value results in additional taxes being paid over time. However, the district’s tax rate of $0.8330  per $100 will remain unchanged.

 

If Prop R passes, the current debt tax rate will remain unchanged.

Conservative projections of future property value appreciation allows the district to present Prop R to voters as a no-tax-rate-increase bond issue. The district’s debt planning models, created in partnership with bond attorneys and financial advisers, estimate that property values will increase by approximately 3-4 percent per year. This is a very conservative estimate compared to actual historical growth in recent years.

 

If Prop R does not pass, will our tax rate go down?

Not for several years. Lindbergh’s last payment on the current bonds is scheduled to be repaid in 2040. If it passes, Prop R 2024 would extend the district’s current bond payment schedule to 2045.

 

How does the district determine its borrowing limit?

The Missouri State Constitution (Article VI, Section 26(b)) limits the outstanding amount of authorized general obligation bonds of a district to 15 percent of the assessed valuation of the district (excluding state-assessed railroad and utilities).

 

The district’s legal debt margin is a point-in-time calculation that is provided in the annual audit. The final, legal calculation for bond issuance takes place at the time of the election. It is based on the district’s outstanding debt as of election day, and the most current assessed valuation from St. Louis County.

 

Where Can I Learn More?

If you still have questions about how the district sets its tax rate or plans for capital improvements, please contact Chief Financial Officer Joel Scheible at joelscheible@lindberghschools.ws. We are happy to answer any questions you may have.