The possible reduction of a 1985 surtax on commercial property has been heavily discussed throughout the public lately. The measure, if passed this November, would cut the current rate of 1.03 dollars per 100 dollars assessed valuation, to 0.51 dollars per 100 dollars assessed valuation on commercial property. While Commercial Property owners would certainly benefit from this, Lebanon City Administrator Mike Schumacher said it will impact revenue for some governmental entities…..
Schumacher also gave a history lesson on the tax, and the changes it’s gone through throughout the years.
The surtax issue will be on the Laclede County Ballot this November, but if passed, wouldn’t go into effect until late next year.