Wednesday, May 30, 2007

2006 Real Estate Taxes

Last night I received my mail and opened my 2006 Real Estate Taxes.

On my tax statement I noticed that the Mississippi Valley Library rate went up .0051 over the 2005 taxes adding probably another $5 to $15 dollars on average to your taxes this year. I am in Madison County so I am assuming that St. Clair homes are similar.

I would like to take this opportunity to explain why this happened and how it will be corrected.

In November 2006 new territory was added to the Mississippi Valley Library District. In trying to determine what the increase would mean to the new tax amounts I estimated what the value would be of the new areas by using previous County amounts. Knowing that our General tax could not exceed .15 and our Building tax could not exceed .02 and finally, the Working Cash tax could not exceed .05, I worked to include the other necessary amounts that would bring us to the .2518 of 2005. I got rather close but overestimated.

There is nothing that can be done at this point other than to pay the amount that is being requested, but I do have a solution that will appear on your 2007 Real Estate Taxes. Since I will be working at that point with established numbers, I can be sure of what the rate will be. So on your 2007 Real Estate Taxes you will see the Mississippi Valley Library rate of no more than .2467 . A drop of .0051 from the 2005 rate; Absorbing the amount that you will pay extra this year.

I can only apologize for any inconvenience this may cause any of our constituents.