Note: the information below only provides an estimated tax amount and does not include taxes paid for debt service to pay off Mehlville bond issues, or other taxes paid to other taxing entities, like local fire districts, Special School District, libraries, sewer districts, zoo-museum district, etc. The overall increase in revenue for the Mehlville School District is 2.61% (not including debt service), which is typical of a semi-annual cost of living adjustment (CPI) year.
The Mehlville School District, as a taxing entity, did exactly what it is supposed to do. When assessments went up, we rolled back our tax levy to match. The difference is, this year was also a CPI (Consumer Price Index) year. This essentially allows government taxing entities to raise taxes every other year, but only at the CPI or cost of living increase for the economy. Note: Taxing entities are not allowed to do this every year, so while it is a cost of living increase, it is a biannual cost of living increase, meaning that, barring other tax levies, taxing entities never fully keep pace with the economy.
Soon, there is going to be an online calculator available either through my web site or the Mehlville School District’s web site that will allow you to calculate the following information yourself. In the meantime, here is my personal, personal property tax story:
In 2006, my land and house were appraised at $137,900. At that point, the county calculates an assessed valuation. From what I can tell, they arbitrarily selected 19% as the figure to multiply your appraised value by.
Therefore, my assessed valuation in 2006 was:
$137,900 x .19 = $26,200
Now, to figure out how much in taxes I would be paying to the Mehlville School District for 2006, I would have to find the voter approved residential tax rate charged by the Mehlville School District, which in 2006, was 3.5755. This 3.5755 value is essentially 3.5755 dollars for every $100 in assessed valuation.
Therefore, my taxes paid to the Mehlville School District in 2006 were:
$26,200 / 100 = $262 x 3.5755 = $936.82
Now as you probably know, 2007 was a major reassessment year for St. Louis County. The average assessment in St. Louis County was a 15.6% increase for the residents of the Mehlville School District. Keep in mind, this is for the Mehlville School District, not the whole St. Louis County area. I think the county average was closer to 20 something percent.
I won’t go through all of the calculations, but if my house was assessed at the average rate of 15.6%, my appraised value would have been $159,412.40, my assessed valuation would have been $30,288, and the total taxes paid to the Mehlville School District would have been $951.48, an increase of $14.66, or 1.57%.
At first glance, you would think, “No way! My appraised value went up 15.6%, therefore, my taxes to Mehlville should go up 15.6%.” Well, that is not how it works. Because of Missouri’s Hancock Amendment, Mehlville was required to roll back its levy, minus the 2.6% CPI that we talked about earlier.
So this means that Mehlville’s Residential Tax Levy went from 3.5755 down to 3.1414.
Now for the real world. An average is an average. If your house was assessed at an amount greater than 15.6%, your taxes paid to Mehlville would be higher than the average increase of 2.6%. If your house was assessed at an amount less than 15.6%, your taxes paid to Mehlville would be less than the average increase of 2.6%.
It just so happens, my house was assessed at an amount much higher than the average 15.6%. My assessment came in at 37.49%. The typical first thought would be, “That is crazy! My taxes are going up37.49%!” Well, as I mentioned earlier, that is just not the case. They still will go up, because of the CPI, but not as much as you might think.
So, here is how it calculates out:
In 2007, my house was assessed at $189,600. That is almost 37.5% higher than 2006. Therefore:
2007 Assessment:
$189,600 x .19 = $36,030
Now, I would divide this by 100 and multiply the result by the reduced Mehlville School District residential tax rate of 3.1414 of every $100 of assessed value.
So:
$36,030 / 100 = $360.30, then $360.30 x 3.1414 = $1131.66
What’s the difference?
2006 was $936.82, subtracted from 2007’s $1131.66, equals $194.84, or a 20.80% increase.
The idea, is that those who’s assessed valuation was higher than 15.6% would pick up a higher tax burden than those who’s property values were taxed below the 15.6% average.
The key here is to realize one important thing. Even though my house was assessed at a 37% higher rate than the previous year, my taxes to Mehlville did not increase 37%. They increased 20.80%, or only $194.84.
Just as an FYI. I live in School District 120 – Mehlville, sub-code H. In 2006, all of the taxing entities in my area had a combined residential tax rate of 6.4151%. In 2007, because of the increase in overall assessment, the taxing entities in my area of Mehlville are now taxing at a combined residential tax rate of 5.8568%.
For me, that means, on a CPI year, my residential property taxes increased $429.03, or 25.53%. ($194 to Mehlville, $205 to other taxing entities.)
Also, when Mehlville presents this information at the next COMPASS meeting, they will be working with the “Blended Tax Rate.” This is a very complicated issue. Essentially, there are four tax funds. The residential, which is what I have been talking about, the agricultural rate, the commercial rate, and the personal property rate (like cars, boats, etc.) For ease of explanation and calculation, the blended rate (a combination of all four tax funds) is used to show the complete picture. The complete picture is what I said earlier, that the average taxpayer in the Mehlville School District will pay an additional 2.6% in taxes to the Mehlville School District. Again, this is typical of any CPI year, and would most likely have happened regardless of reassessment.
Thoughts, ideas? Stay tuned for the online calculator to see where you fit in this picture….
Parents told to watch out for dangerous toys – CNN.com
November 20, 2007
Parents told to watch out for dangerous toys – CNN.com
Parents told to watch out for dangerous toys
* Story Highlights
* Toy industry still “full of safety loopholes,” consumer group says
* Government watchdog urges parents to read warning labels
* Toy hazards include falling, choking and burning, regulators say
WASHINGTON (AP) — Federal regulators sought Tuesday to restore parents’ confidence in toy safety, urging vigilance during the busy holiday shopping season with little mention of lead hazards that have prompted a record number of toy recalls.
Consumer groups, though, warned that they found numerous cases where toys that posed a choking hazard or lead danger had improperly made it to store shelves. “Consumers looking for toys still face an industry full of safety loopholes,” said the U.S. Public Interest Research Group.
