Jackson’s 2020 property tax rate will be almost identical to its 2019 rate based on action taken Monday night by the city’s Board of Aldermen.
“After receiving the revised numbers and recalculating the rates, following Board of Equalization hearings, it was determined that the rates will be adjusted slightly from those which were adopted for 2019,” Jim Roach, Jackson city administrator, wrote in a memo to the aldermen before Monday’s meeting.
Following a brief public hearing, the aldermen approved a 2020 tax rate of $0.8606 per $100 assessed valuation, up a fraction of a penny from last year’s rate of $0.8594.
Based on an estimated assessed valuation of $243,286,065, Jackson’s 2020 property tax is expected to generate $2,093,720, with $1,426,158 of that amount going to the city’s general revenue fund. Of the city’s remaining property tax revenue, $299,234 is earmarked for Jackson’s park fund, while the city’s band and cemetery funds will each receive $184,164 of the tax receipts.
Four bids for Jackson’s 2020 concrete pavement improvement program were presented to the aldermen with amounts ranging from nearly $300,000 to just more than $350,000. The aldermen accepted the low bid of $298,789.75 from Mike Light Cement Finishing of Perryville, Missouri, which was about $31,000 under the project’s estimated cost.
In other business Monday night, the aldermen:
Do you crave business news? Check out B Magazine, and the B Magazine email newsletter. Check it out at www.semissourian.com/newsletters to find out more.
Connect with the Southeast Missourian Newsroom:
For corrections to this story or other insights for the editor, click here. To submit a letter to the editor, click here. To learn about the Southeast Missourian’s AI Policy, click here.