6097 (EXHIBIT A - E) (2) - Laserfiche WebLink

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If the assessed valuation of property in the City has increased by 10% or more over the prior year's valuation by action other than a general reassessment, the estimated rates of levy must be reduced to the extent necessary to produce substantially the same amount of taxes as previously estimated for the current year. Property Tax Levy and Collection. The City's general revenue fund levy for 1997 is $ per $100 of assessed valuation. The operating levy does not require annual voter approval but the City Council cannot raise the rate above that approved in the last election. The information in the following table sets forth the City's property tax levy and tax collections for the General Fund for the last five fiscal years: Total Total Collected as a Taxes Tax Percent of Year Total Levy Levied Collections Total Levy 1996 $1.30 $3,854,801 $3,807,505 98.6% 1995 1.25 3,618,674 3,511,076 96.4 1994 1.07 3,052,766 3,066,021 100.3 1993 1.09 3,069,083 3,130,415 101.7 1992 1.02 2,853,945 2,921,754 102.2 Source: City's Comprehensive Annual Financial Reports. Major Property Taxpayers. The following table sets forth the largest property owners in the City (by assessed valuation) according to the last completed assessment for 1996: Taxpayer Type of Business December 31, 1996 Assessed Valuation Percentage of City's Total Assessed Valuation Anfred Delcrest Plaza Colonial Healthcare Tomo, Elizabeth G., Tr. RSN Associates Delmet Associates LP Mark Twain Bank Gramex Corp (Grandpa's) McKnight Place Partnership Canterbury Associates University City Partnership Apartments Retail Outlet Apartments Apartments Apartments Apartments Apartments Retail Outlet Apartments Apartments Apartments Source: St. Louis County Real Estate Abstract Book. -31-