Permitted Reassessment Revenue Growth

The Missouri Revised Statutes (RSMo) Article X, Sections 16-24 (the Hancock Amendment)  and Section 137.073.2 restricts the increase in revenue Orchard Farm R-V School District can obtain during reassessment years (odd # years) to the lower of:    

Actual growth % in assessed value Consumer Price Index (CPI) 5% more revenue than the previous year

The above excludes the value of new construction and improvements.  Also, the revenue limitation established in this section (Section 18) shall not apply to taxes imposed for the payment of principal and interest on bonds, approved by the voters and authorized under the provisions of this constitution. As a result of RSMo, in 2017 (a reassessment year and part of District FY18) Orchard Farm R-V is permitted reassessment revenue growth of 2.1% since CPI was the lowest percentage allowed of the three items.


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