City of Frontenac, Missouri
A Heritage of Gracious Living, Shopping and Dining
What would the proposed tax increase cost?
If approved on August 3, the total rate for Frontenac for taxes collected in December 2021 would be no more than $1.00 per $100 assessed valuation. Based on the current effective rate in Frontenac of $0.435, the rate increase would be $0.565 ($1.00 minus $0.435). Of course, the additional amount a resident would pay depends on the assessed value of his or her property. The table below provides the projected annual dollar amount increase of the August tax proposal for homes of various assessed amounts:
|
Appraised Value of Home |
Assessed Value of Home* |
Projected Net Rate Increase |
Projected Dollar Increase on Annual Residential Property Tax |
|
$ 200,000 |
$ 38,000 |
$ 0.565 |
$ 215 |
|
$ 300,000 |
$ 57,000 |
$ 0.565 |
$ 322 |
|
$ 400,000 |
$ 76,000 |
$ 0.565 |
$ 429 |
|
$ 500,000 |
$ 95,000 |
$ 0.565 |
$ 537 |
|
$ 750,000 |
$ 142,500 |
$ 0.565 |
$ 805 |
|
$ 1,000,000 |
$ 190,000 |
$ 0.565 |
$ 1,074 |
|
$ 1,250,000 |
$ 237,500 |
$ 0.565 |
$ 1,342 |
|
$ 1,500,000 |
$ 285,000 |
$ 0.565 |
$ 1,610 |
|
$ 1,750,000 |
$ 332,500 |
$ 0.565 |
$ 1,879 |
|
$ 2,000,000 |
$ 380,000 |
$ 0.565 |
$ 2,147 |
|
$ 2,500,000 |
$ 475,000 |
$ 0.565 |
$ 2,684 |
|
$ 3,000,000 |
$ 570,000 |
$ 0.565 |
$ 3,221 |
* Per Missouri statute, the assessed value for residential property is 19% of the appraised market value.
