Historical April–May 2005 article. Dates, prices, services and contacts describe the source period; current availability has not been established.
The assessor of the city of St. Louis, Ed Bushmeyer, is warning neighborhood groups in St. Louis about large increases in property assessments, which will be mailed to us in the latter part of April. Property values in the city have risen over 50% in the last couple years.
The 3-member State Tax Commission has put considerable pressure on the city to adjust its assessments accordingly. Bushmeyer wants people to be aware of the increases and also to realize that a 20% rise in assessment does not necessarily translate into a 20% tax increase. Because of the limitation on tax hikes caused by the Hancock Amendment, he feels there will be a fairly significant rollback in the tax rate.
The bottom line is that we will pay more but not as much as the increase in the assessment.
There are two programs geared to those in certain income categories that can help to take the sting out of the property tax.
The Circuit Breaker program can assist a single person with income up to $25,000 and a couple with income up to $27,000.
There is a new program called the Homestead Program where people can have up to $70,000 in income and are eligible if the tax bill goes up over 5%. Recipients get tax credits.
The deadline is Sept. 30. You basically apply be-fore you receive your bill in November.
The legislature will have to fund this program in their 2006 session for this program to be operable.
If you are applying for the Circuit Breaker, you can’t apply for the Homestead program. Otherwise, we will feel the pinch but not the full magnitude. Bushmeyer noted that only 18 cents on the dollar goes to the city; the largest share – 60% goes to the public schools.
Originally published in The Times of Skinker-DeBaliviere, April–May 2005.
Read this article in the original newspaper issue.
Original source: SD_Times2005_04.pdf, printed page(s) 3; PDF page(s) 3.
