Tax Rate Calculator
The Hancock Place Board of Education approved the 2021-2022 tax rate at its September 27th, 2021, meeting. The rate, approved by the Missouri State Auditor, is $5.0928. This is a decrease of 8.29 cents from last year's tax rate of $5.1757. The Operating levy will be $3.8728, and the debt service levy will remain at $1.22.
Calculate Your Estimated Taxes
Find out the amount of your tax dollars going to your local school district by using the property tax calculator below. This is an estimate only. This does not include taxes paid to ANY other taxing districts, including, but not limited to:
Local Fire District
Special School District
Zoo, Museum District
If you would like more information about property taxes paid to Hancock Place, please call (314) 544-1300. For general information about the property reassessment process, visit St. Louis County's web site at www.stlouisco.com or call (314) 615-5500.
When Hancock Place School District's tax rate goes up or down, what does that mean for taxpayers?
Why did the tax rate decrease?
The 2021 assessed valuation, which includes new construction and improvement, increased $8.8 million or 5.0 percent over 2020, to a combined amount of $184,628,680.
By state statute, only a certain percentage of the increase can be captured by the school district. Therefore, in a reassessment year when assessed valuation goes up significantly, the rate by which the property is taxed will go down. This is due to a law in Missouri called the Hancock Amendment, passed by the state legislature in 1980.
How is the tax rate determined?
Each year the Missouri State Auditor (SAO) provides forms that districts must use to calculate the tax rate. If the assessed valuation increases by more than the consumer price index, the tax rate will decrease. This is commonly referred to as the Hancock Amendment. For 2020, this will be in effect. Conversely, if the assessed valuation, less new construction and improvements, is less than the prior year, the tax rate increases.
When reductions are made to property valuations after the tax rate is set, the district can recoup the lost dollars. This is accomplished by using a two-step process included in the Missouri State Auditor forms. First, the district must recalculate each year using the revised assessed valuations. This results in an adjusted tax rate ceiling that is used in subsequent years. Second, the district is allowed to recoup the lost revenue over a three-year period.
What does this mean in dollars for Hancock Place taxpayers?
The taxpayer who owns a home with the value of $125,000 will see a net decrease over the previous year of approximately $44.60 in taxes. This assumes the valuation remains unchanged. Here is the calculation:
2020: $125,000 x 19% x 0.033822 = $803.27 Hancock Place taxes for 2020
2021: $125,000 x 19% x 0.031944 = $758.67 Hancock Place taxes for 2021
However, most individuals will see some increase in the assessed valuation of their property. The calculator on this webpage will help you determine what the change to your taxes will be for 2021.
What else is included in my tax bill?
It is important to remember your tax bill includes taxes to a number of other taxing authorities (i.e. Special School District, Fire District, libraries, sewer, the Zoo). Hancock Place is just one of several taxing authorities. Although Hancock Place is setting a lower tax rate (by 8.29 cents), as described above, your overall tax bill is also affected by all taxing authorities and your new valuation.
Why does Hancock Place set only one tax rate that includes residential, commercial and personal property?
State law requires districts wholly located within St. Louis County to report separate levies by class (e.g. residential, commercial, and agricultural) of property and a blended rate.
What is the residential tax rate history for Hancock Place School District?