A tax levied on Joplin property owners would go down slightly if the City Council approves a proposed tax rate at a special meeting Monday.
The levy provides funding for some city operations and much of the Joplin Public Library’s funding.
This year’s levy will be slightly lower than last year’s because the consumer price index in Missouri has gone down from a year ago. That index is a component of the calculation used to determine the levy.
A tax rate of 40.92 cents per $100 assessed valuation, down from 42.05 last year, is proposed. Of that amount, 17.10 cents would go to the city compared with 17.46 cents last year. The remainder, 23.82 cents would go to library operations, down from 24.59 last year. That would mean a tax bill of approximately $77 for a house worth $100,000, down from $79 last year.
Joplin’s portion of the tax revenue is used for health, parks and solid waste services. The library uses the funding for general operational costs.
With the addition of the value of new construction and land within the city limits, the levy is expected to generate $1,342,977 for the city and $1,666,549 for the library. That compares with $1,276,414 for the city last year and $1,599,129 for the library, according to information provided by the city finance office.
If the proposed rate is approved, the city’s property tax revenue would increase by $29,970 from the increase in new construction and territory. In addition, the city would realize an increase of $37,005 as the result of reassessment, which incorporates the consumer price index rate.
The library’s property tax revenue would realize an increase of $21,045 from new construction and territory, and $46,375 from property value reassessment under the approved CPI rate.
Joplin’s total valuation encompassing property in both Jasper and Newton counties would be $818,089,467, according to the city figures. That is an increase of more than $56.2 million compared to last year.
The public hearing on the tax rate proposal will be held at 6 p.m. Monday in City Council chambers at City Hall, 602 S. Main St.