Fayette R-III School District
PUBLIC NOTICE
A hearing will be held at 6:45 p.m. CDT on August 15, 2018, at 510 North Cleveland, Fayette, MO at which time citizens may be heard concerning the property tax rates proposed by the Fayette R-III School District. The tax rates are set to produce the revenues which the budget for the fiscal year beginning July 1, 2018 shows to be required from the property tax.
|Assessed Valuation |Current Tax Year |Prior Year |
| |2018 |2017 |
| | | |
|Real Estate |$40,049,747 |$39,063,977 |
| | | |
|Personal Property |$14,614,369 |$13,919,160 |
| | | |
|Total Assessed Valuation |$54,664,116 |$52,983,137 |
The assessed valuation has been certified by the County Clerk and is subject to adjustment pending appeals before the Board of Equalization and Missouri State Tax Commission.
The tax rate ceiling is the maximum tax rate that may be levied by the BOE and is the amount that produces, from all taxable property, substantially the same amount of tax revenue as the previous year. A tax rate higher than the ceiling can only be approved by the voters of the political subdivision. The following tax rates are proposed for application per $100 of assessed value:
| |Current Tax Year Recommended Levy |Tax Revenue Generated by Levy |
| | | |
|Operating Levy |$3.5000 |$1,913,244 |
| | | |
|Debt Service |$0.7762 |$424,303 |
| | | |
|Capital Projects |-0- |-0- |
| | | |
|TOTAL Levy & Generated Revenue |$4.2762 |$2,337,547 |
| |
|New Revenue from New Construction & Improvements $51,955 |
| |
|New Revenue from Reassessment $ 0 |
| |
|Percentage Increase of New Revenue Due to Reassessment 0% |
Trish Elliott, Secretary
Board of Education
Fayette R-III School District
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