The Lee’s Summit R-7 School District Board of Education recently approved a slight property-tax increase amounting to 1.44 cents per $100 assessed valuation, when compared to the previous year’s tax rate. The increase in the tax rate was necessary to make up for the decrease in existing property values as determined by the county assessor.
The Lee’s Summit R-7 tax rate for 2016-17 will be $5.9957 per $100 assessed valuation. The Board of Education made the decision at its annual tax-rate hearing, held Sept. 22.
The Missouri Constitution allows school districts to maintain a consistent level of property tax funding from year-to-year. When property values decrease, the tax rate increases. If property values increase, the tax rate decreases. For example, during the 2015-16 school year when property values increased by approximately 6 percent, the tax rate decreased by 14 cents. This chart shows the property value and tax rate changes over time.