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Olivette holds first reading of 2024 tax levy; final rates await Board of Equalization
Summary
On first reading the council reviewed proposed tax rates for 2024; staff said post-Board of Equalization figures are pending and rates are likely to change slightly. Council discussed local assessment trends and staff said Olivette has not experienced the assessment declines reported in some nearby cities.
The Olivette City Council conducted a first reading on the ordinance setting tax rates for fiscal year 2024 and heard staff explain next steps before final adoption.
Acting City Manager Darren Mann said this is the ordinance’s first reading and that the city is awaiting post-Board of Equalization figures, typically released in the coming week, which often cause small rate adjustments. He described this as a non-assessment year with tax rates broadly stable compared with the prior year.
Council member Clark asked whether Olivette had seen the assessment declines reported by other municipalities such as Webster Groves. Mann replied that Olivette has not experienced that pattern; he said residential valuations have been buoyed by development and that a single large development can materially affect local totals. Mann said the city previously experienced a commercial decline around 2014–2015 but valuations have increased since.
Staff said they will return with updated charts and numbers at the second reading once Board of Equalization figures are available. No formal vote was taken on the tax levy at this meeting because it was a first reading.
