Mexico council adopts 2024 property tax levy after public hearing

The Mexico, Missouri, City Council on Aug. 26 held a public hearing and adopted an ordinance levying property taxes for fiscal year 20242025, after staff presented updated assessed values and rate calculations.

At the hearing, Mr. Schlegel, city counsel, introduced Roger Haines to present the city's assessed valuation and the state auditor's allowable rate. "Based on the 2024 assessed value of $173,554,893 as determined by the Audubon County assessor and the state auditor's office allowable total tax rate calculation of 75.91¢ per $100 assessed valuation, revenues for the city based on 100% collection would be $1,317,455," Haines said.

Why it matters: Haines outlined how that total is distributed for the budget year, with approximately $796,790 to the general fund, $173,555 to parks and recreation, and $347,110 to public health. He noted the general fund levy would rise slightly from 44.78¢ to 45.91¢ per $100 assessed value compared with the prior year, and that the state auditor's calculation aims to keep revenue roughly stable exclusive of new construction.

Council questions focused on collection assumptions. Haines told the council the county collector's fees run about 3to 3.5%, and the city typically realizes about 95to 96% of billed taxes in practice, not the theoretical 100% used for the illustrative revenue figure.

After no members of the public came forward during the hearing, the council proceeded with two readings by title only and moved for passage of bill number 2020447, the ordinance levying taxes on all property for the fiscal year beginning Oct. 1, 2024. Recorded responses during the voice roll call indicated affirmative votes and the ordinance was adopted.

The council's action sets the levy the city will use in its 2024budget process; staff will apply the adopted rates to the final assessed valuations and forward required notices to county and state offices.