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Pacific adopts 2024 tax rate; assessed valuation increase projected to add about $753,000
Summary
The City of Pacific approved bill 5246 as ordinance 3422, keeping the tax rate at last year's level (ceiling 0.4038); staff said the assessed valuation increase will yield roughly $753,000 additional property tax revenue for the general fund.
The Board of Aldermen voted to adopt bill 5246, fixing the city's 2024 tax rate and publishing the ordinance as 3422.
Clerk and staff walked the board through the tables showing assessed valuation changes and the resulting revenue increase. City staff said the increase in assessed valuation — roughly $6.6 million — yields an estimated $753,000 in additional property tax revenue for the general fund for the fiscal year beginning July 1, 2024. "The amount of this bill is the same as last year," the clerk said during discussion; aldermen confirmed the rate uses a legal ceiling of 0.4038.
A roll-call vote passed the bill 5–0 and the clerk announced that bill 5246 would become ordinance 3422.
What happens next: The ordinance takes effect as published; county-assessed valuation figures will also be processed for the St. Louis County portion when available.
