Cape school district's tax rate to remain unchanged

The Cape Girardeau School District's proposed total tax rate for 2014-2015 will remain at $4.1567 per $100 of assessed valuation, board members heard during a tax rate hearing Wednesday.

Residents may speak at the hearing, but no one from the public attended. Tax rates are set to produce revenue from property taxes, required for the 2014-2015 budget.

The tax rate will be up for approval by the board at its regular meeting, set for 6 p.m. Monday at the Central Administrative Office, 301 N. Clark Ave.

Superintendent Jim Welker said Wednesday's meeting would help prepare officials for Monday's meeting.

Welker said the district has four funds: Fund 1 is the general or incidental fund for classified salaries, benefits, supplies and all routine expenses; Fund 2 is for teachers; Fund 3 is for debt service; and Fund 4 is for capital projects -- expenditures of more than $500 or any building project or major equipment purchase.

In 2012, the district voluntarily reduced its operating tax levy ceiling from $3.4863 per $100 of assessed valuation for general operating purposes to $3.4762 per $100, resulting in a reduction of $0.0101 per $100, district information said.

With a resolution signed Wednesday, the board eliminated the voluntary reduction to provide sufficient funds for the 2014-2015 budget approved in June, the information said. The operating tax levy ceiling was $3.4893 per $100 of assessed value.

The operating tax levy ceiling is the maximum rate that can be levied for operating purposes. It does not include debt service, said Neil Glass, assistant superintendent of administrative services.

rcampbell@semissourian.com

388-3639

Pertinent address:

301 N. Clark Ave., Cape Girardeau, MO