The 1/8th of a cent expiring is from the Debt Retirement Fund and associated directly with the debt for community center construction and refunding. The FY’21 budget includes $246,000 from this revenue source. Following the final debt service payment, there will be approximately $350,000 in the fund which can be used on capital projects at the community center as dictated by the ballot language.
The Missouri Department of Revenue will be sending out courtesy rate notification letters in the next week to inform retail businesses of the rate change. To determine the new rate effective April 1, business leaders may obtain a full listing of all rates and changes for the upcoming quarter and tax rate cards at the department’s website by going to: dor.mo.gov/business/sales/
Those who require additional information or assistance concerning the upcoming rate change, contact the local tax unit at 573.751.4876 or by email at email@example.com.