Columbia News

Notice is hereby given of a public hearing before the City Council of the City of Columbia, Missouri, to be held in the Council Chamber of the City Hall Building, 701 E. Broadway, on Monday, August 19, 2024, at 7:00 p.m. The hearing aims to provide all citizens and interested parties an opportunity to be heard regarding the setting of the ad valorem property tax rate for the City of Columbia for 2024. This tax rate will fund the City's Fiscal Year 2025 (FY25) Annual Budget.

The preliminary assessed valuation by category for FY25 is as follows:

- Real Estate (existing): $2,137,587,168

- Real Estate (new construction): $32,704,408

- Personal Property: $459,607,819

- Railroad and Utility — State: $5,087,074

This results in a total preliminary assessed valuation of $2,634,986,469.

For comparison purposes, the assessed valuation by category for the preceding taxable year (2023) was:

- Real Estate (existing): $2,102,756,381

- Real Estate (new construction): $36,945,425

- Personal Property: $485,953,766

- Railroad and Utility — State: $4,400,941

This resulted in a total preliminary assessed valuation of $2,630,056.513.

The revenue required from property taxes to meet the proposed FY25 budget is outlined as follows:

**General Fund**

- Real Estate (existing): $8.710.668

- Real Estate (new construction): $133.270

- Personal Property: $1.872.902

- Railroad and Utility: $20.730

Total Revenue Required: **$10.737.570**

No revenue is required for G.O Debt Service from these categories.

The proposed tax rates for 2024 are:

**General Fund:** 0.4075 cents per $100 assessed valuation

**G.O Debt Service:** 0.0000 cents per $100 assessed valuation

These figures were prepared using data available from Boone County; final amounts will depend on final valuations provided by Boone County.

Done by order of the City Council,

Sheela Amin

City Clerk

See R135-24 for more information.