Commission sets tax rate

The Cape Girardeau County Commission set the 2003 tax rate Monday at .2369 per $100 assessed valuation for the county's road and bridge fund.

The rate is the same as it was last year.

The tax rate is determined by dividing the amount of revenue the county says it needs by the current assessed valuation. The result is multiplied by 100 so the tax rate is expressed in cents per $100 valuation.

The assessed valuation for fiscal year 2003 is $819,640,333, up from $807,818,018 last year. The real estate valuation is up $20 million, while the personal property valuation dropped by $6 million and the railroad and utility valuation dropped by almost $3 million.