24/07/2023
The “total cost” of the proposed Library Subdistrict Tax
By: Gary J. Groman, Independent Journalist
Among the three taxing issues on the August 8, 2023, Special Election ballot, only one will affect The Real Estate and Personal Property Taxes of residents and businesses within the Branson and Hollister School Districts. It will be a “Yes” or “No” vote on whether there “Shall there be a tax of eighteen cents ($0.18) on each one hundred dollars assessed valuation on real estate and personal property located in the Branson/Hollister Library Subdistrict for library services?”
There is a difference between the “Assessed Value” and the “Appraised Value” of real property. According to information received from Susan C. Chapman, Taney Counter Assessor on July 17, 2023, “The assessor only measures your property to find the Appraised Value. Appraised value x Class (Agriculture = 12%, residential = 19%, commercial = 32%) = Assessed Value. Assessed Value x Levy = tax amount”
Using that example, a “residential” condo, Appraised at $92, 552.00, would have an Assessed Value of $17,584.88. If the voters approve the “eighteen cents ($0.18) on each one hundred dollars assessed valuation on real estate and personal property located in the Branson/Hollister Library Subdistrict for library services” on August 8, the resulting increase in the real estate tax paid on the condo will be $31.65 per year. If, instead of “residential,” the condo was “commercial,” the Appraised Value would still be $92, 552, but the Assessed Value would go up to $29,616.64 and the Real Estate to $53.31 per year.
Other examples of the impact on “Residential” real estate would be as follows. The tax on real estate Appraised at $125,000 and Assessed at $23, 750, would be $42.75, Appraised at $150,000 and Assessed at $28,500, would be $51.30, Appraised at $175,000 and Assessed at $33,250, would be $59.85, and Appraised at $200,000 and Assessed at $38000, would be $68.40.
Marcia-Schemper-Carlock, Director of the Taneyhills Community Library, and LaDella Thomas, who Carlock introduced as “heading up the campaign,” gave a presentation regarding the Library Ballot Initiative for August 8, 2023, Special Election during the July 11, 2023, Branson Board of Alderman meeting. At that meeting, in response to the question, “Is it correct that the voters in the Branson Hollister School Sub District (Sub District) will approve two separate taxes with one vote, an increase in their Real Estate Tax and an increase in their Personal Property Tax?” Carlock replied, “Correct.”
The promotional site for the tax at https://www.voteyestaneycountylibrary.org/faq does not mention the additional Personal Property Tax cost to taxpayers. In response to the FAQ, “How much will the proposed levy cost me?” The site’s response is, “Based on the median home value in the voting district, the annual cost will be $59.” There is no mention of “Personal Property Tax” anywhere on the site, nor was it pointed out during the initial presentation to the Branson Board of Aldermen.
If the person owning the $92, 552.00 condo “classed” as residential and having an Assessed Value of $17,584.88 also had a car and/or other Personal Property Assessed at $7,930.00, it would add another $14.27. The total tax increase for the Real Estate and Personal Property Taxes will be $31.65 in Real Estate Taxes and $14.27 in Personal property Taxes for a total increase of $45.92.
As the “Assessed” value of the personal property goes up, so does the amount of Personal Property Tax. Adding that amount to the increase in Real Estate Property Taxes will determine the total cost of a “Yes” vote. Personal property with an Assessed Value of $18,000.00 adds $32.40, $24,000.00, $43.20, and $30,000.00, $54.00.
