The Lindbergh Board of Education unanimously approved the 2023 blended tax rate at its annual tax rate hearing Sept. 19.

Approved was a blended tax rate of $3.8410, about a $0.09 decrease from last year. The blended rate is not levied, but is used to compare the district to other districts, and is a combination of the residential, commercial, agricultural and personal tax rates.

The tax rates are set to produce the revenues which the budget for the fiscal year –  beginning July 1, 2023 – show to be required from the property tax. Each tax rate is determined by first dividing the amount of gross revenue needed by the current assessed valuation. This result is then multiplied by 100 for the rate to be expressed in cents per $100.

Because this is a reassessment year, there was an increase seen in all categories of assessed valuation.

“As of (the) report (from Sept. 18), residential real estate is up about 15%, commercial property is up about 10% and personal property is up again – about 8%,” said Chief Financial Officer Joël Scheible. “So when assessed valuation grows, we’re required to roll our levy back, hold the taxpayers harmless, but it’d be able to generate the same dollars last year as we did on that property. But that is ‘a hold harmless agreement’ with the state of Missouri so that taxpayers are not harmed by large growth in assessed valuation.”

Scheible was referring to the Hancock Amendment, which prevents government agencies from receiving a financial windfall if assessed values increase. Growth is restricted to inflation and the consumer price index.

The new rates per $100 assessed valuation are:

• Residential real estate – $2.7500 (no change from last year)

• Agriculture real estate – $3.1401 (increase of $0.2277 from last year)

• Commercial real estate– $3.3879 (decrease of $0.2968 from last year)

• Personal property – $3.6944 (no change from last year)