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Parkway's tax rate set for 2009-10 school year

On August 26, the Parkway Board of Education approved the 2009-10 residential tax rate at $3.41, which is up 18 cents from last year's rate of $3.23.  Despite this year's increase, the average Parkway homeowner will actually see a net decrease of about $13 in taxes because the average home value in Parkway dropped 6.7 percent since last year.

With this adjustment, Parkway's revenues will remain flat while expenditures are projected to decrease by approximately $1.3 million due to belt-tightening measures. "We have been working hard to cut costs in anticipation of the decrease in property values," said CFO Wes Garton. "We froze school and departmental budgets this year and will continue to do whatever it takes to minimize the financial impact on taxpayers in today's challenging economy."

Each year by September 1, public school districts are required to adopt the current year's tax rate according to calculations prescribed by the Missouri State Auditor's Office.

Find out the amount of your taxes to Parkway by using the property tax calculator.