August 12, 2014 Tax Rate Hearing

Minutes of the

Savannah R-III Board of Education

Central Office Meeting Room

Tax Rate Hearing: 6:30 PM

August 12, 2014



Tax Rate Hearing Minutes


I.                   President Jim Vega called the Tax Rate Hearing to order at 6:30PM.


Members present:  Board President, Jim Vega; Vice-President, Dr. Ken Rosenauer; Dyann Duncan, Linda Kozminski, Susan Garrison, Jennifer Peterson, and Mark Schneeflock.


Members absent: None


Others present:  Dr. David Brax, Superintendent; Dr. Tim Mattson, Assistant Superintendent; Kate Drew, Board Secretary; Kenny Ragland, Zac Coughlin, Dr. Julia Schmitz, Ron Jackson, Aimee Addington, Linda Gillispie, Kelly Warren, and Michelle Silkett.


II.        Summary of the tax rate hearing was reviewed by Dr. David Brax, Superintendent. 


III.       President Vega called for public comments – no one addressed the Board.


IV.       Dr. Ken Rosenauer made the motion to establish the 2014-2015 tax rate of $3.8090. Linda Kozminski seconded the motion.  Motion passed with a 7-0 vote.


VI.       Mark Schneeflock made the motion to adjourn to the open session meeting.  Linda Kozminski seconded the motion. Motion passed with a 7-0 vote. 





_____________________________                       ___________________________

Jim Vega, Board President                                                            Kate Drew, Board Secretary

Savannah R-III School District Tax Rate Hearing Notice
A hearing will be held at 6:30 p.m., on Tuesday, August 12, 2014 at the District Office, 408 W. Market St., Savannah, Missouri, at which time citizens may be heard on the property tax rates proposed to be set by the Savannah R-III School District, a political subdivision.

The tax rates are set to produce the revenues from the property tax required by the budget for the fiscal year beginning July 1, 2014.Each tax rate is determined by dividing the amount of revenue needed by the current assessed valuation.The result is multiplied by 100 so the tax rate will be expressed in cents per $100 valuation.
Assessed Valuation (AV) (by categories) Estimated Current TaxYear 2014 Prior TaxYear 2013
Real Estate $129,820,228 $128,212,900
Personal Property $35,445,170 $35,900,980
Combined Real Estate & Personal Property $165,265,398 $164,113,880
Less AV in Tax Increment Financing (TIF) - -
Adjusted Assessed Valuation on Which Tax Revenue is Received $165,265,398 $164,113,880

New Construction & Improvements (Included in AV Total above) $1,452,998 $2,066,070

The following Tax Rates are Proposed by Fund: Amount of Property Tax Revenues Budgeted (assumes 100% collection) Proposed Property Tax Rate (per $100) Amount of Calculated Property Tax Revenue From Prior Year Property Tax Rate (per $100)
Incidental $4,675,358 2.8290 $4,793,438 $2.9208
Teacher $0 0.0000 $0 $0.0000
Debt Service $0 0.0000 $0 $0.0000
Capital Projects $1,619,601 0.9800 $1,608,316 $0.9800
Total $6,294,959 $3.8090 $6,401,754 $3.9008

Board of Education
Total New Revenue: ($106,795)
Savannah R-III
New Revenue from New Construction and Improvements: $55,345
School District
New Revenue from Reassessment: ($162,140)
Jim Vega, President
Percentage of New Revenue from Reassessment: -2.5327%
David Brax, Superintendent

*Estimates reflect the most accurate information provided by the County Clerks at the time of this posting.
These figures are based on information available as of Thursday, July 24, 2014.It is possible the estimate may change by the Tax Rate Hearing or that the Board of Education may make changes until September 1, 2014.