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STLCC Board of Trustees Approves Property Tax Rate
September 27, 2012
The tax rate for the St. Louis Community College district will remain unchanged per $100 assessed valuation in accordance with the statutory provisions regarding tax rate settings. The STLCC Board of Trustees Sept. 27 voted to keep the tax rate for 2012 at 22.00 cents.
The tax rate is based on the assessed valuation of property in the community college district, which includes St. Louis City, St. Louis County, and portions of Franklin and Jefferson counties.
The 2012 tax rate complies with the revenue growth limitations of the Hancock Amendment, and state legislation which mandates that the college cannot raise the tax rate higher than 22 cents without voter approval. The college is allowed only to increase its property tax revenues by the lowest of actual growth, the rate of inflation, or 5 percent. Again this year, however, the college is at the maximum rate allowed by the legislation that limits the maximum authorized levy.
Assessed real and personal property valuations for 2012 received from the St. Louis County Department of Revenue, the St. Louis City Office of the Assessor, and the county clerks of both Franklin and Jefferson counties indicate that the total assessed values increased slightly by 0.92 percent, from $26.67 billion last year to $26.91 billion for 2012. For a taxpayer with no change in appraised/assessed property value, the individual’s tax bill will not increase in 2012.
The revised tax rate of 22.00 cents will be certified by the State Auditor’s office subject to the Oct. 1, 2012, notification deadline.