Property taxes to increase

While Mayor Darwin Hindman was announcing that he won’t seek re-election, the Columbia School Board was voting to raise property taxes by 4.25 cents to $4.7717 for every $100 of assessed valuation.

Earlier, Boone County Assessor Tom Schauwecker criticized the district for its lack of transparency in a legal notice in the Columbia Daily Tribune.

K-12 reporter Hayley Tsukayama had a nice story about what this will mean for the schools — namely, teachers who get an additional degree will be moved to the next income bracket.

Here’s some more on the tax aspect:

The district could have approved up to an 8.28 cent increase.

Property taxes are calculated by multiplying the property value by tax rate. The assessor sets the value; taxing districts such as Columbia Public Schools set the tax rate.

This should be a reassessment year; however, because of the recession, Schauwecker said earlier that valuations won’t increase. That means that any changes in property tax should be the only increases people see in their bills, barring construction.

Two board members — Ines Segert and Michelle Pruitt — voted against the raise. Both said they were concerned that the increase would lead to more revenue than the board had budgeted for.

This revenue is what will pay for teachers’ higher salary for more education.

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