With the TV news reporting State Senator Mike Gibbons’ call for the roll back of the County’s tax rate, I received this update on the City’s tax rate situation from St. Louis Assessor Ed Bushmeyer:
Unlike the County, the City is already at its authorized ceiling, so we have to roll back the rates according to the state’s formula. Last year’s City rate was $1.5908; this year’s rate will be $1.4402. Those figures include debt service, which is falling almost two cents from $.1513 to $.1328.
Bushmeyer cautions that these figures include only the City portion of the tax rate. Other jurisdictions included on City tax bills have until September 1 to report their new rates to the Assessor’s Office.