9/26/2022 - The Webster Groves School District Board of Education voted 6-0 on September 21 to approve a 2022-23 maximum blended tax rate of $3.9568 plus a blended recoupment rate of $0.0686. The 2022 debt service levy is set at $0.5699.
This year the district is able to recoup revenue from the 2021 tax year due to assessed valuations that were lowered through appeal settlements. Included in the proposed tax rate is a one-time recoupment rate of $0.0198 for residential property and a recoupment rate of $0.5020 for commercial property. The recoupment rate goes towards the capital projects fund. The recoupment rates will generate $721,060 before the collection rate is taken into consideration.
The debt service rate has not changed for several years. The debt service rate services the principal and interest payments on the district’s bonds. The allowable rate is $0.6720 but the recommendation was to keep the debt service rate at $0.5699. The district is able to voluntarily reduce this rate and still make all required bond interest and principal payments. The debt service fund will be cash flow positive going forward and will be able to support Proposition S, which was passed in August.
The debt service rate has been $0.5699 since 2012. It ranged from $0.5600 to $0.5670 from 2002 to 2011.