The Commercial and industrial property is assessed at 32% of market value. Residential property is assessed at 19% of market value. Property taxes are levied by the City. The assessments and collections of property tax are functions of Webster County.
Debt Service Levy
Once indebtedness has been approved by the voters and general obligation bonds are issued, the Board of Aldermen may set the tax rate for debt service, without limitation as to rate or amount, at the level required to make payments sufficient to pay the interest and principal of the general obligation bonds as it falls due. (Article VI, Section 26(f) of the Missouri Constitution)
Operating Levy for Parks and Recreation and for Cemetery Operations
Any property tax levied by the City for the operations of City's parks and recreation and cemetery operations cannot exceed the "tax rate ceiling" for the current year without voter approval. The tax rate ceiling, determined annually, is the rate of the levy which, when charged against the newly assessed valuation of the City for the current year, excluding new construction and improvements, will produce an amount of tax revenues equal to tax revenues for the previous year increased by 5% or the Consumer Price Index, whichever is lower.
View Current Year Property Tax Levies, Distribution, and Pie Chart (PDF)