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Ritenour Board of Education Sets 2020 Tax Rates

 Sept. 28, 2020 – The Ritenour Board of Education set the district’s new tax rate at a special meeting on Sept. 28, 2020.  The residential, commercial and personal property tax rates were virtually unchanged per $100 of assessed value because 2020 is not a reassessment year.    

The 2020 tax rates, which include debt service to retire bonds, are listed below:

 

2019 Tax Rate*

2020 Tax Rate*

Change

Residential Real Estate

$5.23

$5.23

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Commercial Real Estate

$5.60

$5.65

+$0.05

Personal Property

$5.43

$5.43

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* Tax rates are per $100 of assessed value.

Ritenour sets its tax rates to help produce the revenues required to sustain the schools within the district for the current school year, to meet principal and interest payments on the bonded debt of the district and to provide the funds to meet other student and school needs.  Revenue is budgeted assuming a 94 percent collection rate of taxes. 

“We’re grateful and thankful for our community’s continued trust and support,” said Ritenour Chief Financial Officer Dwight Lindhorst.  “We strive to be good stewards of taxpayer money.”

“Ritenour follows Missouri state statutes regarding setting and adjustment of tax rates,” Lindhorst added.  “All tax rates are reviewed and monitored by the Missouri State Auditor’s office before they can be set by the district to ensure we are in compliance with all state laws.”

The district continues to receive national awards for its budgeting and financial management practices.  For the past 18 years, Ritenour received the Meritorious Budget Award for excellence in the preparation and management of its annual budget.