Proposed Tax Levy Presentation 2015 in St. Louis - Overview & Comparison

SLPS 2015 Proposed Tax Levy Presentation to the Special Administrative Board Angie Banks, CFO/Treasurer September 24, 2015

2015 Tax Levy Special Administrative Board of the Transitional School District of the City of St. Louis, as a political subdivision, is authorized to levy an ad valorem tax (tax based on the value of real estate and personal property assessed valuations) Tax levies are approved on an annual basis generally to provide funding for the general operations and debt service of the school district Proposed tax rates must be submitted to the City of St. Louis Tax Assessor and the State Auditor s Office by October 1st (certification)

Assessed Valuations Tax Year 2012 Tax Year 2013 (1) Tax Year 2014 (2) Tax Year 2015 (3) Variance (3-2) Assessed Valuation (by categories) Real Estate* 3,178,472,521 2,951,331,855 2,968,792,154 2,991,642,899 22,850,745 4,692,529 9,622,771 - Personal Property 732,115,345 756,853,066 769,646,865 774,339,394 - Machinery and Tools 261,655,223 260,973,163 245,445,359 255,068,130 - State Assessed Railroads, Utilities and Communications 83,259,459 87,671,536 89,995,608 98,572,388 8,576,780 Total 4,255,502,548 4,056,829,620 4,073,879,986 4,119,622,811 45,742,825 *Includes Residential and Commercial Property

Operating Tax Rate Calculation Assessed Valuation (by categories) Tax Year 2014 Tax Year 2015 Variance % Real Estate* 2,968,792,154 2,991,642,899 22,850,745 0.8% Personal Property 769,646,865 774,339,394 4,692,529 0.6% Machinery and Tools 245,445,359 255,068,130 9,622,771 3.9% New Construction & Improvements (88,378,428) (88,378,428) 3,983,884,378 3,932,671,995 (51,212,383) -1.3%

Tax Levy History 4.0000 3.5000 Levy Dollars per $100 Assessed Valuation 3.0000 2.5000 2.0000 1.5000 1.0000 0.5000 0.0000 2009 3.1817 0.6211 2010 3.2732 0.6211 2011 3.5532 0.6211 2012 3.7860 0.6211 2013 3.7500 0.6211 2014 3.7500 0.6211 Operating Debt Service

2015 Proposed Tax Levy & Comparison 2015 Proposed tax rate $0.0000 Teachers $3.7500 Incidental $0.0000 Capital $3.7500 Operating $0.8057 Debt $4.5557 Total rate { { 2014 tax rate $0.0000 Teachers $3.7500 Incidental $0.0000 Capital $3.7500 Operating $0.6211 Debt $4.3711 Total rate Proposed Operating $0.0000 Proposed Debt Proposed Change $0.1846 $0.1846

2015 Proposed Operating Tax Levy Impact Operating $3.75 rate cap impact Maximum Rate Permitted = $3.7907 Difference = $0.0407 per $100 AV Cap Impact = $1.68m Tax Year 2015 $215,935,050 in Tax Increment Financing (TIF) assessments $6.7m increase from 2014 TIF Impact = $8.1m

2015 Proposed Debt Tax Levy Impact Assessed valuation = $4,119,622,811 Debt $0.6211 rate impact Revenue* = $25.6m Principal & Interest = $27.4m Fund balance decline = $1.8m Debt $0.8057 rate impact Revenue* = $33.2m Principal & Interest = $27.4m Fund Balance increase = $5.8m * Includes current & delinquent tax revenue

2015 Proposed Tax Levy Revenue The proposed operating rate of $3.7500 will generate approximately $139.0m The proposed debt service rate of $0.8057 will generate approximately $30.0m 90% collection assumption

2015 Tax Levy Approval Special Administrative Board: Approval of Resolution to Set Tax Rate 1. Operating Rate @ $3.7500 (no change) 2. Debt Service Rate @ $0.8057 ($0.1846 increase) Total Rate @ $4.5557 (4.2% increase)

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