Farmington City Administrator Greg Beavers reported on the city’s tax reassessment calculations during the city council meeting held Thursday night at Long Memorial Hall.
“There’s been a lot of talk about assessments,” he said. “Our final number after they got through with the Board of Equalization process over at the county is $254 million in total assessed valuation, that’s up from $219 million.
“As we previously talked about, the Hancock amendment limits how much revenue you can get through a reassessment, which is 1.9 percent this year on the CPI (Consumer Price Index), so the your effective tax rate that we’re advertising rolls back about 10 percent.”
Beavers explained that the city will see an increase in revenue of about $34,000 over last year due to new construction and reassessment.
“That will be true for about every other taxing district out there, something similar with the exception of the school district,” he said. “They are Hancock affected, but their operating levy is $2.85, and there is a minimum operating levy of $2.75. So they are going down, but not to the magnitude of the other taxing districts.”
Farmington Mayor Larry Forsythe commented on the new Farmington Tourism Center and Museum housed in the old St. Francois County Jail. The center will have a grand opening and ribbon cutting today at 1 p.m.
“When the jail was empty, and everybody wanted something to do with it, Greg and I got together,” Forsythe said. “We decided to make the jail the tourism and information center for the city of Farmington, it’s centrally located. Greg said ‘what do we do about the back side?’ I said 'whatever you want to do.'
Forsythe and Beavers met with local residents and Librarian Travis Trokey to put together stories of Farmington history that are displayed in the museum for anyone looking for information on Farmington, past and present.
“When you walk in the jail door, it tells you exactly how it became Farmington and what it’s all about,” Forsythe said. “On Tuesday, the 13th we will be opening it up to the public, it’s going to be fabulous. Farmington needs to be proud of that.”