Creve Coeur council hears finance director’s proposal for 2024 property‑tax rates

Lori Silver Miller, the city’s finance director, told the Creve Coeur City Council at a public hearing that the city’s preliminary 2024 property‑tax rates would change slightly from 2023 levels and are subject to Board of Equalization adjustments. Miller said the recommended residential rate would rise from 0.067 to 0.068 per $100 of assessed valuation, the commercial rate would decrease from 0.080 to 0.079, agricultural would increase from 0.024 to 0.056, and the debt‑service levy would remain at 0.082.

Miller said the numbers are preliminary because they precede the board‑of‑equalization work that typically produces final assessed valuations in mid‑September. "All of the proposed numbers are before the board of equalization adjustments, so we'll probably have to come back and adjust the numbers in September," she said.

She described the projected fiscal impact: excluding any new growth, property‑tax revenue represents a small portion of the city’s general fund (about 4.5 percent in the presentation), and the general fund revenues tied to these rates are expected to increase by a little over $22,000, roughly 2.7 percent from 2023, due largely to new construction and valuation changes. Miller also explained the mechanics of rollback when assessed valuation growth exceeds the Consumer Price Index (CPI), which the presentation identified as 3.4 percent for 2024.

After entering supporting documents into the public‑hearing record, including the finance presentation, city code and public files, the council closed the hearing. Council members agreed to defer any final ordinance adjustments until the second reading after the Board of Equalization releases its figures.

Next steps: staff will update the council with the final assessed valuations when they are released and bring any necessary rate adjustments back for the second reading in September.