Tax Rate Calculator

As 2024 is a non-reassessment year, changes to the counties’ assessed valuations are due to new construction and personal property. The total assessed valuation within the Rockwood School District increased by less than one percent (0.57%), remaining near $5.4 billion.

In a non-reassessment year, assessed valuations are not increased on existing property and the Hancock Amendment limitation is not triggered (see “How is the tax rate determined?”) Therefore, tax rates change only due to the recoupment calculation.

Each year the Missouri State Auditor’s Office (SAO) provides forms that districts must use to calculate the tax rate in accordance with Article X, Section 22 of the Missouri Constitution (commonly known as the Hancock Amendment) and Section 137.073 of Missouri Statutes.

The basic tax rate calculation allows the district to set its tax rate up to the rate approved by voters in the last levy election. However, the Hancock Amendment provides that if the assessed valuation of existing property (i.e., not counting new construction and improvements) increases by more than the consumer price index, the tax rate must be decreased to a rate that generates revenue only to the extent of the increase in the consumer price index. If the assessed valuation, less new construction and improvements, is less than the consumer price index, the tax rate may increase, but not beyond the rate set in the last levy election.

When protested property valuations result in reductions to assessed value after the tax rate is set, the district can recalculate its prior year tax rates based on the revised assessed valuations to recoup the lost dollars. The recoupment calculation adjusts the tax rate ceiling to be used in subsequent years. The district is allowed to recoup the lost revenue over a three-year period.

Under Proposition 3 – passed by voters in November 2023 – 36 cents were transferred from the debt service levy to the capital projects portion of the operating levy. In tax year 2025, an additional 18 cents will be moved from Debt Service to Capital Projects. Once fully transferred, the remaining tax levy in the Debt Service fund ($0.14 in 2026) will be sufficient to satisfy remaining general obligation bond principal and interest.

The taxpayer who owns a home with the value of $250,000 will see a net decrease over the previous year of approximately $3.84 in taxes. This assumes the home’s valuation remains unchanged. Here is the calculation:

• 2023: $250,000 x 19% x .038907 = $1,848.08 Rockwood taxes for 2023
• 2024: $250,000 x 19% x .038826 = $1,844.24 Rockwood taxes for 2024

It is important to remember your tax bill includes taxes to a number of other taxing authorities (i.e. Special School District, Fire District, libraries, sewer, the Zoo). Rockwood is just one of several taxing authorities. Although Rockwood is setting a lower tax rate (by $0.0081), as described above, your overall tax bill is also affected by all taxing authorities and any changes in your property valuation.

State law requires districts wholly located within St. Louis County to report separate levies by class (e.g. residential, commercial, and agricultural) of property and a blended rate. Since Rockwood serves two counties (St. Louis and Jefferson), the district sets one tax rate for all taxpayers.