HomeMy WebLinkAboutLibrary.Agenda.08-24-2023Special Board Meeting & Public Tax Hearing to Set Tax Rates for the 2022-2023 Fiscal Year
Cape Girardeau Public Library Board of Trustees
Thursday, August 24th, 2023 @ 12pm
Cape Girardeau Public Library
Mission: The mission of the Cape Girardeau Public Library is to be the community's first choice for information
gathering experiences through social interaction, programming, technology, and the written word for all ages.
I. Call to Order
IL Public Hearing
a. Public hearing on proposed tax rates for fiscal year ending
June 30, 2024
b. A copy of the proposed rates and public notice can be found on
the back of this agenda
III. New Business
a. Approval of proposed tax rates for fiscal year ending June 30,
2024.
i. General Operating tax rate: 0.1652
ii. Temporary Debt tax rate: 0.1494
IV. Adjournment
a. Next regular meeting: Thursday, September 7'h, 7 a.m.
�a.� PAn
CITY OF CAPE GIRARDEAU MUNICIPAL LIBRARY DISTRICT
NOTICE OF PUBLIC HEARING
A public hearing will be held Thursday, August 24th, 2023, at 12pm at the Cape Girardeau Public Library, located at 711
N. Clark St, at which time citizens may be heard on the property tax rates proposed to be set, by the Municipal Library
District of Cape Girardeau. Immediately following the close of the public hearing, the Board of Trustees hold a special
meeting and vote to certify the tax rates for the 2023-2024 fiscal year.
The tax rates shall be set to produce substantially the same revenues, which the budget for the fiscal year beginning July
1, 2023, shows to be required from the property tax. The rates conform to the tax rate ceiling pursuant to 137.073.3 or
137.115 RSMo (depending on the year) as well as any rate revisions required by Article X, Section 22 of the Missouri
State Constitution. Each tax rate is determined by dividing the amount of revenue required by the current assessed
valuation as provided by Subsection 3 of Section 137.245 RSMo. The result is multiplied by 100, so the tax rate will be
expressed in cents per $100 valuation,
This notice is given as provided in Section 67.1.10 RSMo.
Date of publication is August 15', 2022,
Assessed Valuation Current Tax Year Prior Tax Year
(by Cateeories) 2023 2022
Real Estate $499,768,060.00 $447,257,650.00
Personal Property $155,007,594.00 $129,694,640.00
Railroad and Utility $221,297,485.00 $19,090,846.00
Less: TIP ($5,384,700.00) ($2,881,930.00)
TOTAL $670,688,439.00 $593,161,206.00
The proposed tax rates are:
Operating Tax Rate = 0.1652
Temp Debt Tax Rate = 0.1494
Estimated Increase in Valuations due to New Construction: $4,378,224
Estimated Increase in Valuations due to Personal Property: $41,180,215
All figures are based on available information and are subject to revision by the Board of Trustees any time prior to
August 31st, 2023.
Cape Girardeau Public Library Board of Trustees
By: Katie Earnhart, Library Director