2. Tax Levy Hearing September 26, 2016
Good Evening, President Latham, Board of Education, Dr. Collins-Hart, and district patrons. I am here to present the assessed valuation information and proposed tax rates tonight.
As a reminder, assessed values are determined and compiled by the St. Louis County Assessor’s office, and then reported to the district.

3. Assessed Valuation Real Estate Non-reassessment year
Changes due to decrease in TIF values and by settlements of prior years’ protests
Increases also due to new construction
Personal Property
Values are determined from self-reported assets by individuals and businesses
The net increase in assessed values is primarily due to a decrease in TIF values.

4. New Construction – Assessed Value
Actual Projected
Residential $ 1,135,600 $ ,000
Commercial $ 16,912,620 $ 1,500,000
Total $ 18,048,220 $ 2,000,000
Here…you can see that new construction is above our projections. The $18.0 million in new construction increased significantly from the 2015 new construction of $2.0 million.

5. Residential Real Estate
Assessed Valuation
Residential Real Estate
2015 $ 807,798, $ 806,344,860 (Decrease) $ (1,453,780) % Change - .10% Projected Change 0.06%
The decrease in residential values is due to protested assessments.

6. Agricultural Real Estate
Assessed Valuation
Agricultural Real Estate
$ 953,780
$ 962,600
Increase $ ,820
% Change %
Projected Change %
NOTE (if needed)
Agricultural real estate is a very small portion of the district’s total assessed valuation, and therefore, has little effect on our revenue. (about $35,000 in operating revenue)

7. Commercial Real Estate
Assessed Valuation
Commercial Real Estate
$ 415,063,080
$ 420,420,360
Increase $ ,357,280
% Change %
Projected Change %
The increase in Commercial Real estate is attributable to a decline in TIF values.

8. Assessed Valuation Personal Property 2015 $ 369,441,620
$ 369,441,620
$ 371,099,060
Increase $ ,657,440
% Change %
Projected Change %
Personal property assessed value increased modestly, but below our projections.

9. Assessed Valuation Total All Sources 2015 $ 1,593,257,210
$ 1,593,257,210
$ 1,598,826,880
Increase $ ,569,670
% Change %
Projected Change %
Current estimated operating tax revenue is about $1 million lower than what we budgeted. That is based on an estimated collection rate. However, as in the prior year, the real unknown will be delinquent tax revenue, due to refunds from prior years.

10. Total Tax Levy by Sub-Class of Property
Real Estate
Residential $ $ $ .3000
Agricultural $ $ $ .5346
Commercial $ $ $ .3000
Personal Property $ $ $ .3000
“Blended Rate” $ $ $ .3004
2015 Actual
2016 Proposed
Difference
NOTES
The proposed increase in the debt service rate is due to the decline in the debt service fund balance in the past 5 years reflecting the decline in assessed values of about 22%.

11. Debt Service Fund Balance

12. 2016 Proposed Tax Levy – By Fund
Operating Levy- Incidental Fund only $
Debt Service Levy $
Total Tax Levy $

13. Assessed Valuation
Primary change in non-reassessment years are changes in TIF values, new construction, any protested values, and personal property.
NOTES- operating revenue
Every $1 million in AV = $53,467 Every 1 cent = $160,281
I estimated total of $1,582,394
Final Estimates
Residential- $816,027, %
Ag-$558, %
Commercial- $418,833, %
Personal property- $340,497, %
2007, 2009, 2011, reassessment year

14. Tax Levy Hearing September 26, 2016
Good Evening, President Latham, Board of Education, Dr. Collins-Hart, and district patrons. I am here to present the assessed valuation information and proposed tax rates tonight.
As a reminder, assessed values are determined and compiled by the St. Louis County Assessor’s office, and then reported to the district.