BELLE — Due to a 1.58 percent increase in last year’s assessed property valuations, the Maries County R-2 School District expects to receive $618,428 in new revenue from construction and …
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BELLE — Due to a 1.58 percent increase in last year’s assessed property valuations, the Maries County R-2 School District expects to receive $618,428 in new revenue from construction and improvements, according to Superintendent Dr. Lenice Basham.
Additionally, the Maries County R-2 Board of Education on Aug. 29 approved the 2023-24 tax rate levy increase from $3.3364 in 2022-23 to $3.3417 per $100 assessed valuation for the 2023-24 school year. Basham said $3.2217 will be applied to the incidental fund and 12 cents will be applied to capital projects.
“This was not a reassessment year,” Basham said. “The increase in the tax rate comes from adjustments in the State Assessed Railroad and Utility (SARRU) revenue and movement on our local assessed valuation.”
The increase was adjusted by the state auditor.
“If the local assessed valuation is growing above the Consumer Price Index (CIP) after subtracting growth from new construction and personal property, it will drive up the operating levy, but never above the voter-approved maximum authorized levy,” Basham said. “Our current CPI is six-and-a-half percent, but is legally capped at five percent.”
The board approved the tax rate with a 6-0 vote.
