A “yes” vote supports authorizing an additional property tax of $60 per $100,000 in assessed value to generate an estimated $2.3 million per year in revenue for childhood services for children five years of age or younger. The assessed value of property is a percentage of actual or market value.
A “no” vote opposes this measure to authorize an additional property tax of $60 per $100,000 in assessed value to fund early childhood services, thereby leaving the city’s existing property tax rate of $190 per $100,000 in assessed value in place.In Missouri, property is assessed at various percentages of market or actual value depending on the type of property:
- Houses – 19% of actual value
- Farm machines – 12% of actual value
- Historic cars and planes – 5% of actual value
- Crops – 0.5% of actual value
- Other vehicles – 33.3% of actual value
This means that a home with the median actual value of $140,000 for St. Louis would be assessed at $26,600. This means the Proposition R tax would be $15.96 for this home. Read more.