Ballot issues: How much will taxes go up?

Several schools and at least one other political subdivision in central Missouri are seeking property tax increases in the April 2 election.

Among the schools are Southern Boone Public Schools, which is asking for a 40-cent increase in its operating levy; Boonville, where the district wants a 49-cent increase; Fayette, which is seeking a 72-cent increase; and New Bloomfield schools, where voters will decide on a 50-cent tax increase.

In Missouri, real estate taxes are calculated per $100 of assessed valuation.

Assessed valuation is far different than market value — 19 percent of market value, to be exact. To calculate your annual property tax, multiple you home’s market value by .19, divide that number by 100 and multiple by the tax rate.

If your overall rate is $7.65 per $100 of assessed value and your home is worth $150,000, your annual tax bill would be about $2,180.

To calculate how much a property tax increase will cost, simply add the amount of the increase to your overall rate and compare the two numbers.

Boone County tax rates are available here.

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