The Manchester Board of Aldermen has approved the city’s 2019 residential, commercial and personal property tax rate at its regular meeting on Sept. 16.
Director of Finance Donald Yucuis presented the rate at a public hearing on Sept. 3 prior to that evening’s Manchester Board of Aldermen meeting. The 2019 property taxes are collected near the end of the calendar year and the new tax rates are based on the assessments for residential, commercial and personal property, plus new construction and an inflation factor of 1.9%.
The expected total taxable assessed valuation for 2019 is $421 million, which is an increase of 11.8% or $44 million more than 2018. The 2019 taxable assessed valuation based on Missouri state laws reduced the general fund residential and commercial tax rates from $.041 in 2018 to $0.037 per $100 in 2019.
Personal property and debt service tax rates remain unchanged at $.050 and $.280 respectively.
The total city of Manchester tax rate for residential and commercial property including the debt service levy will be $0.317 and for personal property will be $0.330.