MRH Board of Education Approves Adjusted Tax Rate
At a tax rate hearing on Thursday, September 20, the Maplewood Richmond Heights School District Board of Education made quick work of approving the property tax rates for the coming fiscal year.
The tax rates for 2018 will be $4.7002 for Residential Real Estate, $4.8464 for Commercial Real Estate, $5.5041 for Personal Property, and $1.3500 for Debt Service to be allocated by the blended rate, by fund, as $4.7411 to the Incidental Fund , $0.1000 to the Capital Projects Fund and $1.3500 to the Debt Service Fund.
The tax rates are set to produce the revenues required to sustain the schools of the district for the ensuing school year and to meet principal and interest payments on the bonded debt of the district. The tax rate is determined by dividing the amount of revenue permitted by the current assessed valuation by property classification. The result is multiplied by 100, so the tax rate will be expressed in cents per $100 valuation.
These rates are subject to change due to the receipt of subsequent information from the St. Louis County Assessor’s Office or upon notice of the State Auditor’s Office.
Click here to read the resolution approved by the MRH board.
For more information, contact MRH School District at (314) 644-4400.