Crestwood board to conduct tax-rate hearing

The Crestwood Board of Aldermen will conduct a public hearing at 7 p.m. Tuesday before considering final approval of the city’s 2009 tax rates.

Certified assessed valuations as of July 1 are:

• Real estate-residential: $178,123,920.

• Real estate-commercial: $80,500,951.

• Personal property: $31,199,988.

Aldermen voted 7-1 Aug. 11 — Ward 1 Alderman Darryl Wallach was opposed — to tentatively set the tax rates as follows:

• Real estate-residential: 22.3 cents per $100 of assessed valuation.

• Proposition S-residential: 20 cents.

• Real estate-commercial: 30.1 cents.

• Prop S-commercial: 20 cents.

• Personal property: 27.9 cents.

• Prop S personal property: 20 cents.

The tax rates are expected to be levied at the ceiling for all categories. The 2009 post-Board of Equalization assessed valuation figures, which are used to calculate allowable tax levies, are not expected to be available before setting the tax rates, which must be done by Sept. 1.