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Preliminary budget: Wentzville finance leader projects reassessment growth but warns state funding uncertainty could reduce expected revenue
Summary
Preliminary numbers show about a 10% increase in assessed values (roughly 7.5% reassessment plus new construction), but uncertainty over state funding could cut the district—stimate by about $6.9 million.
District finance staff presented preliminary budget numbers and a projected nonbinding tax rate to the board.
The presenter said Saint Charles County ssessor data show roughly a 10% overall increase in assessed value for the district in the reassessment year, with about 7.5% attributable to reassessment and roughly 2% from new real‑property construction. The finance presentation estimated an aggregate revenue increase from reassessment and new construction of roughly $9.6 million, with about $4.5 million available to operating funds under preliminary calculations.
On the state side, the presenter highlighted uncertainty in the state foundation formula and the state adequacy target (SAT). The governor nd legislature had proposed different SAT figures; if state funding remains at a lower level (67.60 rather than a projected 71.45), the district faces an estimated shortfall of about $6.9 million compared with the higher projection used during contract negotiations. The presenter warned final funding and any possible withholdings will not be known until the state budget is finalized in May.
Staff also described the new senior property tax freeze program (Senate Bill 190) as a new variable: eligible senior taxpayers will have fund 1, 2 and 4 property tax payments frozen at prior levels, which is estimated to reduce revenue compared with a normal reassessment year by roughly $1 million under preliminary assumptions.
The finance staff reminded the board that the district must submit a nonbinding property tax rate to the county clerk by April 8; staff indicated a preliminary calculation would lower the district ggregate property tax rate to about $4.50 (estimated) because assessed values rose. The presenter cautioned the rate is nonbinding and will be adjusted after the board sets the final rate later in the budget process.
No binding budget decisions were made; the presentation closed with administration noting figures are preliminary and expected to change as state actions and final assessor numbers are received.
