Rockwood School Board Approves Decrease in 2021 Tax Levy
The Rockwood Board of Education approved the 2021-2022 tax rate at its Sept. 30 meeting. The rate, approved by the Missouri State Auditor, is $4.1252. This is a decrease of 17.33 cents from last year’s tax rate of $4.2985. The operating levy will be $3.4452, and the debt service levy will remain at $0.68.
The taxpayer who owns a home with the value of $250,000 will see a net property tax decrease over the previous year of approximately $82.32. This assumes the valuation of the property did not change.
Rockwood Chief Financial Officer Paul Northington noted that the assessed valuation in Rockwood’s district footprint -- the net of new construction and improvements -- increased by approximately $250 million over the previous year. The increase in assessed valuation across the district translates into a decrease in the tax rate for property owners of the Rockwood School District. Each year the Missouri State Auditor (SAO) provides forms that districts must use to calculate the tax rate. If the assessed valuation increases by more than the consumer price index, the tax rate will decrease. This is commonly referred to as the Hancock Amendment.
Northington further noted that the increase in assessed valuation and the ability to lower the tax rate fits nicely into Rockwood’s strategic plan, The Way Forward, which cultivates an environment of efficient and effective business operations and maintains fiscal responsibility by supporting a balanced budget.
Rockwood Interim Superintendent Dr. Tim Ricker shared that the district continues to be recognized for its conservative fiscal management. “We are one of only four districts in Missouri to have a Standard and Poor’s rating of AAA,” said Dr. Ricker. “In addition, the long-range financial plan for the district ensures gold standard fiscal responsibility for years to come.”