Rockwood School Board Approves Slight Decrease in 2024 Tax Levy

The Rockwood Board of Education approved the 2024-2025 tax rate at its September 26 meeting. The rate, approved by the Missouri State Auditor, is $3.8826. This is a decrease of $0.0081 from last year’s tax rate of $3.8907. 

As part of the district’s two-year, zero-tax-rate-increase levy transfer made possible by public support for Proposition 3 last November, the Capital Projects portion of the operating levy will increase to $0.44, and the debt service levy will decrease to $0.32. Under Proposition 3, an additional 18 cents will be moved from Debt Service to Capital Projects in tax year 2025. 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 2024-2025 tax rate represents a decrease of nearly 18 percent from 10 years ago and nearly 11 percent from five years ago.

Rockwood Director of Finance Dan Steinbruegge mentioned a couple of significant factors that went into setting the 2024 tax rate. 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.  

“This is the smallest percentage increase in assessed valuation Rockwood has seen in over 10 years,” noted Cyndee Byous, Rockwood Chief Financial Officer. “However, projected revenues generated by this tax rate do adequately support Rockwood’s Fiscal Year 2025 operating budget.”

Rockwood’s strategic plan, The Way Forward, cultivates an environment of efficient and effective business operations and maintains fiscal responsibility by supporting a balanced budget. 

“I would like to thank the Finance Department for its continued strong stewardship of the district’s finances,” Rockwood Superintendent Dr. Curtis Cain said. “Our Finance staff is routinely recognized for its outstanding work and helps Rockwood maintain our status as the only school district in the state of Missouri that currently holds all four distinctions of a top AAA rating from S&P as well as the Meritorious Budget Award and Certificate of Excellence in financial reporting from the Association of School Business Officials International and the Certificate of Achievement for Excellence in financial reporting from the Government Finance Officers Association of the United States and Canada.”

Find out more about the tax rate adjustment, how the tax rate is determined and the history of tax rates.