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St. Joseph officials give school finance briefing: property tax, SAT and debt limits explained
Summary
District business staff outlined how local property tax, state adequacy funding (SAT), federal aid and debt limits shape the district budget. The presentation explained assessed valuation rates, attendance-based state funding, and bond capacity limits tied to assessed valuation.
District financial staff briefed the St. Joseph School Board on how the district’s budget is built, explaining locally levied property tax calculations, the state adequacy target (SAT), federal categorical funds, and limits on borrowing.
The presenter described local revenue as primarily property tax based, explaining assessed valuation rates used in Missouri: residential property assessed at 19% of market value, agriculture at 12%, commercial at 32% and vehicles at roughly 33.3% of value. Using the district’s levy as an…
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