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U. City Drafts 2011 Tax Rates


Second reading to be held at Sept. 26 city council meeting


September 22, 2011
University City officials have announced the draft rates for the city's 2011 tax rates.

For residential properties, the overall tax rate, including a tax levy for the city's public library, will be $.989 per $100 of assessed valuation. Without the library rate, the total residential property tax levy is $.745. Both of those figures are down from 2010 rates, which, including the library, was $.999, and without, $.761.

For the 2011 taxes, the residential rate breaks down to $.555 for the city's general revenue, $.156 for the city's pension fund and $.034, which goes to the city's debt service. There are additional tax rates for property in the Loop and Parkview Gardens areas of the city.

The University City Council held a public hearing and first reading of the rates at its Sept. 12 meeting. Another reading and possible approval are scheduled for the Sept. 26 council meeting.

The rates may be modified before then because the city has not yet received finalized assessed valuations from St. Louis County. The Board of Equalization had not yet completed the assessment appeal process as of the Sept. 12 meeting. Once the city receives those figures, they will be sent to the state auditor's office for approval.

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