STLCC board approves tax-rate increase

The tax rate for the St. Louis Community College district will be increased per $100 of assessed valuation in accordance with the statutory provisions regarding tax rate settings. 

The STLCC Board of Trustees Sept. 29 voted to revise the tax rate for 2011 to 22 cents per $100 of assessed valuation from 21.79 cents per $100.

The tax rate is based on the assessed valuation of property in the community college district, which includes St. Louis City and County and parts of Franklin and Jefferson counties. The revised rate was calculated on the Missouri State Auditor’s worksheet calculator to assure compliance with the Hancock Amendment, 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. This year, however, the college has reached the maximum rate allowed by the Hancock Amendment.

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 values decreased by 4.31 percent, from $27.83 billion last year to $26.63 billion for 2011.

The 22-cent property tax rate will generate nearly $62.1 million for the college, a decrease from $62.8 million last year. For a taxpayer with no change in appraised/assessed property value, the individual’s tax bill will increase 40 cents per $100,000 of appraised value. Taxpayers who have reduced appraisals/assessments will not experience as great an increase.

The revised tax rate of 22 cents will be certified by the State Auditor’s office subject to the Oct. 1 notification deadline.