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August 20, 2009

August 20, 2009. FY 2009/2010 Tax Levy. FY 2009/2010 Tax Levy. Special Administrative Board of the Transitional School District of the City of St. Louis, as a political subdivision, is authorized to set tax levies Public notice must be posted one week prior to public hearing

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August 20, 2009

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  1. August 20, 2009 FY 2009/2010 Tax Levy

  2. FY 2009/2010 Tax Levy • Special Administrative Board of the Transitional School District of the City of St. Louis, as a political subdivision, is authorized to set tax levies • Public notice must be posted one week prior to public hearing • Tax levies are set annually • Proposed tax rates must be submitted to the State Auditor by Sept 1st (certification)

  3. FY 2009/2010 Tax Levy Points of interest: • 2009 was a reassessment year • Net $10.8m decrease in real estate assessment • $25.7m assessment decrease • $14.9m new construction • $10m increase in personal property • $31m ( 20%) increase in TIF assessments • $155m to $186m

  4. FY 2009/2010Tax Levy The tax levy should be apportioned as follows: $0.0000 Teachers Fund 3.2732 Incidental Fund .0000 Capital Projects Fund .6211 Debt Service Fund $3.8943* Per each $100 of assessed valuation * As reviewed by State Auditor’s office

  5. Prior year tax rate: $0.0000 Teachers $3.1817 Incidental $0.0000 Capital $3.1817 Operating $0.6211 Debt $3.8028 Total rate Proposed tax rate: $0.0000 Teachers $3.3723 Incidental $0.0000 Capital $3.3723Operating $0.6211 Debt $3.8943 Total rate FY 2009/2010Tax Levy $0.0915

  6. FY 2009/2010 Tax Levy Why is there a $0.0915 increase in the tax rate? • New revenue allowed for new construction and improvements • And the decrease in assessed values from last year • General operating voter approved tax rate ceiling $3.75 vs. maximum allowed $3.2732 • The proposed rate is $0.4768 below the voter authorized ceiling

  7. FY 2009/2010 Tax Levy Special Administrative Board: Approval of Resolution to Set Tax Rate

  8. Appendix

  9. FY 2009/2010 Tax Levy

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