The city of Lee’s Summit has hit a new milestone in assessed property valuation, surpassing the $2 billion mark. Having received assessed valuations from both Jackson and Cass Counties, Finance Director Conrad Lamb reported a $2.033 billion total valuation for the city.
The numbers show a net increase of 1.77% over 2017, below the increase in the Consumer Price Index set by the State Tax Commission (2.1%), which means the tax levies can be set at the same rate as last year.
The property tax levies for calendar year 2018 will not change from 2017, with a combined total of $1.5154 per $100 of assessed valuation.
$0.8886 for the General Fund per $100 of assessed valuation
$0.1571 for the Parks and Recreation Fund per $100 of assessed valuation
$0.4697 for the Debt Service Fund per $100 of assessed valuation
The city council voted unanimously to approve the levy at their Sept. 20 meeting with no discussion or public comments. Councilmembers Craig Faith and Diane Forte were absent.