Hannibal School District schedules public hearing on property tax rate for Tuesday

HANNIBAL, Mo. — The Board of Education for the Hannibal School District will hold a public hearing at 5:45 p.m. on Tuesday, Aug. 20, at the Hannibal Early Childhood Center, at 544 N. Veterans Road.

The proposed tax rates aim to generate the necessary revenue to support the district’s budget for the fiscal year that started July 1, 2024. These rates are calculated by dividing the required revenue by the current assessed property valuation, then multiplying by 100 to express the tax rate in cents per $100 of assessed value. The revenue projections are based on a 100 percent collection rate with no county fees deducted. However, actual revenue may be lower due to collection rates and county-assessed fees.

Changes to the tax rates can be made during the hearing, with final approval expected by Sept. 1.