The annual levy of property tax for general revenue in the city of Branson has officially been re-established.
“An amendment to the post Board of Equalization calculations was established and resulted in a rate change for the property tax levy,” said city of Branson Finance Director Jamie Rouch at the Sept. 8 Board of Aldermen meeting. “So, we are asking that you approve this ordinance, repealing ordinance No. 2020-0078 and re-establish the annual levy of a property tax in the amount of .6128.”
At the Aug. 25 aldermen meeting, the Board approved the levy at .5688.
However, when the aldermen voted to pass Bill No. 5860 at the Sept. 8 meeting, they approved the current levy which is set at .6128.
According to a press release provided by the city of Branson, this latest change is due to an assessed valuation amendment from Taney County.
“What happened was, after I had brought you the first reading of the property tax, there was an amendment, basically an error in the calculation as it were, and so it came back to us,” said Rouch. “Apparently they sent an email, I did not catch that email, I did not know about this till after the second reading of the first property tax. So, just in an order to fix this and move on, we’re just asking to adjust this, and it was an error with the calculation of the assessed valuation, I believe.”
According to the release, this will slightly increase the percentage of assessed valuation that residents and business owners will pay on property owned inside the city of Branson. For example, last year, an owner of a $150,000 home would have paid $911.55 to the city of Branson. Now, the amount will come to $919.20.
“It will be an increase from last year of $7.65 for a $150,000 home,” said Rouch. “So, it will be a slight increase versus the previous rate, and that was due to quite a drop in an assessed evaluation figure.”
The levy for 2019 was .6077.
According to the release, a property tax levy imposes a set percentage on property tax payers based on the value of their property. Property tax is determined using a formula set by the state.
The property tax is due on Dec. 31, 2020 to the Taney County Collector.
Visit bransonmo.gov for more information.