July 19, 2026 — Agenda
School District of Clayton For Information Only | Action Required Board of Education
Page 1 of 2 2024 Property Tax Rate September 25, 2024
Summary 2024 property tax rates are required to be set prior to October 1.
Description of Agenda Item Each year, property tax rates are required to be established in accordance with Missouri statutes using assessed valuation data supplied by the St. Louis County Assessor’s Office. Post Board of Equalization assessed valuation data available as of September 13, 2024 was utilized to prepare the 2024 tax rate calculations. All data and calculations are reviewed by the State Auditor’s Office for accuracy and compliance with statutes.
Typically, as property assessed values rise, tax rates will fall; and the opposite is true that when property assessed values fall, tax rates will rise. The intended result of either scenario is approximately level tax collections for the school district.
Although 2024 is not a reassessment year, assessed valuations of real estate property experienced changes in values. Residential real estate assessed valuations increased $65,200, or 0.01% on existing properties. Commercial real estate assessed valuations decreased $5,701,700, or -0.98% on existing properties. The net reduction in real estate assessed values results in a corresponding increase in the blended tax rate. This change in rate, together with allowable CPI growth produces revenue growth in the approximate amount of $971,171, or 1.56% over the prior year.
New construction added $5,352,100 to residential real estate assessed valuations and $9,248,000 to commercial real estate assessed valuations. New revenue from new construction is estimated at $631,604, or 1.02% over the prior year.
The 2024 property tax rate for residential real estate is $3.8504, down from the 2023 rate of $3.8516. This decrease in rate is due to the $65,200 increase in prior year assessed valuations.
The 2024 property tax rate for commercial real estate is $4.6464, up from the 2023 rate of $4.6025. This increase in rate is due to the $5,701,700 decrease in prior year assessed valuations. Additionally, a recoupment rate of $0.1300 will be applied to recoup commercial real estate taxes not collected due to State Tax Commission decisions. The total 2024 property tax rate for commercial real estate will be $4.7764.
The 2024 property tax rate for personal property is $4.4447, identical to the 2023 rate of $4.4447.
Each tax rate presented represents the total rate for the respective class of property. Each total rate is comprised of an operating levy plus a debt service levy. The debt service levy is $0.5110 for all property classes, with the remainder of the levy representing the operating levy. The 2024 debt levy remains the same as the 2023 debt levy.
The 2024 blended property tax rate is $4.2061, up from the 2023 blended tax rate of $4.1885. The District’s voter authorized tax rate ceiling remains unchanged at $4.5100. Voluntary rate rollbacks remain in place.
School District of Clayton For Information Only | Action Required Board of Education
Page 2 of 2 The public hearing notice is attached and includes additional information.
The proposed 2024 property tax rates are expected to produce tax collections of approximately $63,768,706. Proceeds from property tax collections will be used to support general operations, salaries and benefits, capital improvements, and payment of debt interest and principal, during the 2024-2025 fiscal year.
Recommendation Approve the 2024 property tax rates as presented.
Motion Approve 2024 property tax rates as follows: $3.8504 per $100 assessed valuation for residential real estate, which includes $0.5110 debt service levy. $4.7764 per $100 assessed valuation for commercial real estate, which includes $0.5110 debt service levy plus $0.1300 recoupment levy. $4.4447 per $100 assessed valuation for personal property, which includes $0.5110 debt service levy.
Submitted by: John Brazeal, Chief Financial Officer