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STLCC Board of Trustees Approves Property Tax Rate

August 28, 2009

The tax rate for the St. Louis Community College district will be increased per $100 assessed valuation in accordance with the statutory provisions regarding tax rate settings. At its Aug. 27 meeting, the STLCC Board of Trustees approved a rate of 20.87 cents per $100 valuation for 2009. The rate is up from 20.13 cents last year.

The tax rate is based on the assessed valuation of property provided prior to the August 27 meeting in the community college district, which includes St. Louis City and County and portions of Franklin and Jefferson counties. Information received from the St. Louis County collector of revenue, the St. Louis City assessor, and the county clerks of both Franklin and Jefferson counties indicates that the assessed value decreased by 2.20 percent, from approximately $29.45 billion last year to about $28.81 billion for 2009. The 20.87 cent property tax rate will generate nearly $62.1 million for the college, up from $60.9 million last year. A residential property with an appraised value of $200,000 will realize a $2.81 increase in the 2009 Real Property Tax bill over 2008 as the result of the revised tax rate.

The college is allowed only to increase its property tax revenues by the lowest of actual growth, the rate of inflation, or 5 percent. Because of Hancock Amendment limitations, the college cannot raise the tax rate higher than 22 cents without voter approval.