The Rockwood Board of Education approved the 2020-2021 tax rate at its Sept. 29 meeting. The rate, approved by the state auditor, is $4.2985. This is a decrease of 4.78 cents from last year’s tax rate of $4.3463. The operating levy will be $3.6185, and the debt service levy will remain at $0.68 cents.
The taxpayer who owns a home with a value of $250,000 will see a net decrease over last year’s tax of approximately $22.70. However, this example assumes that the valuation of the property did not change.
Rockwood Chief Financial Officer Paul Northington noted that the assessed valuation, including new construction, increased by approximately $53 million. The decrease in the tax rate for property owners in the Rockwood School District is attributed to reductions in the district’s recoupment rate.
Rockwood is one of only four Missouri school districts to hold a Standard and Poor’s rating of AAA. The Parkway School District is also in that select group.