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Council holds first reading of property tax levy ordinance; rates presented for fiscal year ending June 30, 2026
Summary
City finance staff presented proposed tax levy rates for fiscal year ending June 30, 2026: $0.3056 per $100 for general fund, $0.0573 per $100 for health fund, and $0.7283 per $100 for downtown special business district; council approved the first reading and staff said final rates may change after county Board of Equalization actions.
City finance staff presented proposed property tax levy rates at the Aug. 4 Cape Girardeau City Council meeting and the council approved the ordinance on first reading.
"The pro forma calculation in compute rates per $100 of assessed value are 0.3056 of a dollar for the general fund, 0.0573 of a dollar for the health fund, and 0.7283 of a dollar for the downtown special district business district," Miss Lehi Hopper said while presenting the ordinance (first reading). She told the council the rates are computed using county assessor values and formulas and limits set by the state constitution and state statutes.
Council discussion: A council member asked whether the ordinance needed an editorial amendment to reflect the correct fiscal-year end date (June 30, 2026). City staff responded that the county Board of Equalization was expected to meet before the next council meeting and that an amendment to the ordinance would likely be necessary after those determinations.
Action taken: Council approved the first reading of Bill 25 88 (property tax levy ordinance) by voice vote. Staff said final levy rates could be amended following the Board of Equalization's determinations.
What to watch: The Board of Equalization's findings can change assessed values and may lead to a subsequent amendment before the ordinance is finalized.
