SMITHVILLE — The property tax levy for the Smithville School District will drop for residents in both Clay and Platte counties.
Based on an evaluation from the Missouri Auditor’s Office, combined real estate and personal property within the district have a total assessed value of $273,210,625.
Property values increased by 9.2%, but due to the Consumer Price Index and the state’s Hancock Amendment requiring districts and other taxing entities not to exceed total added revenue of the current CPI, 1.9%, the district cannot collect the total amount of the increase in value.
The new tax levy will be $5.10 for every $100 of assessed valuation, down from $5.179.
Of the $5.10, $2.3765 will go to incidental funds, $1.05 will go to teacher salaries, $1.1535 will go to debt services and 52 cents will go to capital improvements.