Public Hearing - September 28, 2017

Thursday, September 21, 2017

NOTICE OF PUBLIC HEARING ON PROPOSED RATE OF TAXES FOR THE KANSAS CITY URBAN PUBLIC LIBRARY DISTRICT Notice is hereby given to those persons resident within The Kansas City Urban Public Library District, hereinafter described as The Kansas City Public Library District, that a public hearing shall be held on Thursday, September 28, 2017, commencing at 1:30 p.m. at the Central Library Annex Board Room located at 913 Baltimore Avenue, Kansas City, Missouri, for the purpose of enabling citizens to be heard concerning the *revised* proposed rate of taxes for said Kansas City Public Library District. *A public hearing on the proposed rate of taxes was conducted on September 19, 2017, however corrected assessed valuation data was received on September 20, 2017 resulting in a change in the proposed tax rate.

In accordance with the provisions of Section 67.110, RSMo, the following information is submitted:

1. The assessed valuation by category of real and personal tangible property of said Kansas City Public Library District for fiscal year 2017-2018 is estimated as follows: (a) Real estate $2,763,357,995 (b) Personal property $770,906,539.

2. The assessed valuation by category of real and personal tangible property of said Kansas City Public Library District for the preceding fiscal year is as follows: (a) Real estate $2,476,377,890 (b) Personal property $754,302,461.

3. The amount of revenue required to be provided from the property tax as set forth in the annual budget adopted by the Board of Trustees of said Kansas City Public Library District for the rate to be levied is projected as follows: General operating revenue $15,159,648.

4. The amount of revenue increase estimated for fiscal year 2017-2018 for new construction and improvements is projected at $150,629. The amount of revenue increase due to reassessment is projected at $335,151, a 2.1% increase from the preceding fiscal year.

5. The estimated tax rate proposed to be set for taxation is as follows: General operating levy $0.4676 cents per $100.00 assessed valuation.

By order of the Board of Trustees of The Kansas City Public Library District, this 21st day of September 2017.

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