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Parkway Estimates Tax Rate at $3.30

The Parkway School District is estimating its 2009 residential rate will change from $3.23 to $3.30.  Although the rate is increasing because of a decrease in assessed values, the change will result in a slight decrease in property taxes for the average Parkway homeowner.

With the new estimated tax rate, the average residential homeowner would pay about $14 less in real property taxes to Parkway in 2009 than in 2008 (based on an average home price of $250,000).  This is because of an average decline in residential property values of 3 percent due to St. Louis County property reassessment.

State law requires school districts to project an estimated tax rate before April 8 in order to provide taxpayers information on how changes in their assessed values may affect their annual tax bill.

2009 Estimated Tax Rate $3.30
2008 Actual Tax Rate $3.23
2007 Actual Tax Rate $3.23
2006 Actual Tax Rate $3.43

Parkway has been tightening its belt in anticipation of this decrease in property tax revenue.  For example, school and departmental budgets have been frozen for 2009 -2010 school year.  As always, Parkway will continue to manage its tax dollars carefully and in the best interests of our children.