STATEMENT OF THE PROBLEM

One list subscriber asks:

I am worried how much my insurance will raise and how much my property taxes will increase, as this is financed into my house payment. I am making ends meet, but there isn't really much wiggle room. Now the little bit of extra that was to be saved for all the repairs that had to wait, getting the girls through college, just doesn't look like it's going to be there.

Maybe this isn't going to go up as bad as I think, but my assessment was over 50% of last years. So, I don't know if it is this hard for me how it will be for all the retired in our area. I guess if we can find out somehow what is going to hit us in December for this huge increase, it would be helpful so we can try to come up with it before we get our bills.

RESPONSES

1. Bill Miller claims the rising taxes will not be as high as most fear.
   
   
   Bill Miller

   As I understand it, the total taxes the city can collect can only rise by the lower of;

   • The rate of inflation(2.9%)
   • 5%
   • The increase of the assessment.

   If the total assessment in the city has risen by 34% as indicated in the newspaper, the rate would have to be lowered to meet the limitations above.

   For example, if your assessment increased 34%, your taxes would go up 2.9%. If your assessment was more or less than the 34%, your taxes would go up or down proportionately.

   This is information that I received from the Missouri Attorney General's office.

   Bill Miller