SCHOOL BOND IMPACT UNCLEAR

Timing of the reassessment and its effect on residential property values could affect a proposed bond issue and tax increase in the Cape Girardeau School District.

The district is asking voters for a 30-cent property tax increase and a 39-cent Proposition C property tax rollback to fund a $14 million bond issue. The ballot measures will be decided April 1.

Cape Girardeau School District Superintendent Dan Tallent said it is vital for the district to be honest with voters.

"The worst thing we could do is pass the bond issue and then have people get their tax bills in April and say 'You lied to me.' We want to tell people up front about reassessment," Tallent said.

If approved, the bond issue and tax levy will fund a major capital improvement project to renovate several buildings and build two schools.

Notices informing voters that the value of their property, and hence the amount they pay in taxes, could be increasing significantly will be sent out in mid-April by the county assessor.

The overall impact of reassessment on district patrons is unclear. While property values will go up for some, others could see a slight decrease or no change at all.

Also, major overall increases in reassessment will trigger a rollback in the tax levy. How much of a rollback the district will have to provide is uncertain.

The district's current levy is $2.88 per $100 assessed valuation. Without factoring in a reassessment rollback, the levy would increase to $3.57 if the April ballot measure passed.

Tallent said the situation will make explaining the impact of the ballot effort more difficult.

"Before this issue came up, it was easy to predict how much the tax changes would be," Tallent said.

Tallent is revising his presentation to reflect reassessment so voters can be fully informed.

"It makes it much more complicated, and that makes it more difficult," Tallent said. "If a person is looking for a reason to vote no for it, it gives them grounds to do it," he said.

Tallent said registered voters will be sent information spelling out what the proposed tax levy and reassessed property values will mean to them economically.

"If you don't explain it, and then they get their tax bill, then it will create a feeling of distrust," Tallent said.

"I think this is something we have to discuss with voters. If we are honest and up front and explain why this is occurring, and also explain in detail the need, they'll support it."

County Assessor Jerry Reynolds said he informed both the Cape Girardeau and Jackson school districts of the impending reassessment last year.

Jackson School District Superintendent Howard Jones said he hopes the rollback will equalize tax bills as it is intended to do.

"Homeowners might have a higher assessment, but they shouldn't have to pay a higher dollar amount because of the rollback," Jones said. "Whether it actually does that, I don't know."

The state's foundation formula, which dictates the distribution of state money to local public-school districts, could cause the district to lose money after the rollback, Jones said.

The district is checking with the Department of Secondary and Elementary Education to see what the changes will mean.

When values change due to reassessment, taxing entities have to roll back their levy so it will generate only the amount of revenue it did the previous year, plus growth from new construction and an adjustment for inflation. The bulk of property tax revenue goes to school districts.

"What we're doing right now is checking the lay of the land and seeing where we will be," Jones said. "I don't expect a windfall but hope we aren't hurt."

Jackson's current levy is $3.21 per $100 assessed valuation. Last April district voters approved a 20-cent levy hike to fund a $7.8 million renovation and construction project.

Jones said the timing of the bond issue had nothing to do with this year's impending reassessment.