I’ve been asked to share a little perspective on information circulating through our community which is causing a bit of confusion. It’s about the “stadium bill”, SB 3, recently passed in MO, which also put a cap on property tax increases.
At a recent forum designed to give school board members information to help advocate for their school districts, it appears the situation regarding the cap placed on increases in property taxes was made out to be much more catastrophic than it really is.
Senate Bill 3 (SB 3) allowed state senators to place a cap on increases in property tax payments from residents in their counties so as to keep the payments the same amounts as paid in 2024. That means the increase in the amount of property taxes received in the future by local taxing entities, such as the school district and fire district and other districts, will be limited to less of an increase than they might have gotten otherwise.
All of the same amount of tax monies those districts received this year (which was the 2024 rate) will still be paid to them next year. All of the new property taxes stemming from new construction and new homebuyers and new additions or improvements will still be paid to them next year. All of the other sources of funding will still be paid to them next year. And, after all of that, if any districts still need more revenue, they can certainly propose a change in their tax rate, the percentage they request voters give them, and all of those monies raised that way will be given them.
So the sky is not falling, not even for our publicly-funded institutions which provide such needed and necessary services!
The final (“Truly Agreed and Finally Passed”) version of the bill is linked below if you want to read it. It’s an existing section of law with the new parts added in bold, and the property tax part of it starts near the end, around the top of p.21, with the “meatiest” part beginning in the last paragraph of p. 30:
https://www.senate.mo.gov/25info/pdf-bill/E1/tat/SB3.pdf
I’m interested to hear your thoughts and questions, and, if I do not immediately know an answer, I will research and consult until I can find the answer for you!
Thank you again for the privilege of representing you in the school district!
**As always, I am one of seven members on the Board of Education, and I speak only for myself, sharing my own, personal view. I do not at all intend to attempt to represent the Board to you in anything I say or write or post or comment. I do, however, intend to do my best to represent you to the Board!! 🙂