Rockwood Schools Estimate Tax Rate Increase

Owners of average-value homes within the Rockwood School District worth roughly $248,000 may be expected to pay about $5 more for this year's property taxes.

That's because the Rockwood School District this month estimated the 2011 tax rate at $4.3216, which is an increase from last year's tax rate of $4.2752, Rockwood Chief Financial Officer Shirley Broz said in a news release.

She said district representatives had decreased the tax rate as assessed values in residential property rose in St. Louis County in previous years because they are "sensitive to the challenging financial times taxpayers are facing." At the April 7 Rockwood board of education meeting, she emphasized the overall actions that the district has taken during the past five years has resulted in a cost savings of $22,374,160.

Broz stated the 2011 estimated tax includes an operating tax rate of $3.6416 and a debt service tax rate of 0.6800. She said the district voluntarily lowered its debt service rate 7 cents in 2008 due to an increase in assessed values from new construction, the early pay-off of the Chesterfield Valley Tax Increment Financing (TIF) District and increasing property values.

Previous years' tax rates were as follows.

State legislation requires school districts in reassessment years to project an estimated non-binding tax rate before April 8, so that taxpayers have information regarding how changes in their assessed values affect annual tax bills. During September, a public hearing will be held to approve the actual tax rate for the 2011-2012 school year.

The equation for the final rate this fall will reflect additional details not available presently, including current personal property assessed values and reductions in real property assessed values that result from property assessment appeals.

With this estimated increase, residential taxpayers with average home values of $247,955 would pay approximately $5 more in real property taxes to Rockwood for this year than they did for 2010. Broz said the difference is due to an average decline in residential property values of nearly 1 percent due to reassessments.

Editor's Note:  Fenton-High Ridge Patch Editor Dan Barger contributed the following comparison chart of school districts regarding tax rates for this article. Source of the data is St. Louis County Collector's Office.