Return to Headlines

Ritenour Board of Education Sets 2021 Tax Rates

The Ritenour Board of Education set the district’s new tax rate at a special meeting on Sept. 28, 2021.  As a result of the overall growth in the district’s assessed value, the district rolled back the residential real estate tax rate by 49 cents, commercial rate by 45 cents and personal property rate by 19 cents. 

St. Louis County reassesses property values every two years, and 2021 was a reassessment year. 

The 2021 tax rates, which include debt service to retire bonds, are listed below:

 

2020 Tax Rate*

2021 Tax Rate*

Change

Residential Real Estate

$5.23

$4.74

-$0.49

Commercial Real Estate

$5.65

$5.20

-$0.45

Personal Property

$5.43

$5.24

-$0.19

* Tax rates are per $100 of assessed value.

Ritenour School District Chief Financial Officer Dwight Lindhorst says the decrease in the tax rates result from a $35.7 million overall increase in the district’s assessed value, a net increase of about 5.7% over 2020. 

“We are excited to see continuing financial improvement in our community, especially with residential assessed values jumping over 13 percent,” said Lindhorst. “State law does not permit school districts to receive more money as a result of reassessment than they received the previous year beyond Missouri’s cost of living index, which is 1.4 percent this year.  So, when the total value of property in Ritenour increases in value, the district is required to reduce the tax as needed to produce this amount of funding.”   

The 2021 blended tax rate for the Ritenour School District is $4.99 for each $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 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 approved 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 19 years, Ritenour received the Meritorious Budget Award for excellence in the preparation and management of its annual budget.