Property tax 101- GO Bonds

The county collects property taxes for several different taxing entities. The city of Raytown is one of several of these. Each entity receives money based on taxes increases for those entities based on what voters have approved. The City of Raytown hasn’t had approved increases in decades. Due to the lack of funds the city hasn’t been able to keep up with road maintenance and solve our storm water run off issues. The GO (general obligation) bonds will help with this. Money from bonds may only be used for the purpose defined. Extra taxes are collected for the bonds, until the bonds are paid off. The GO bonds will increase the money paid to the City of Raytown from property taxes. This increase is only until the bonds are paid off and the increases will only occur when money is used. Similar to getting to a home improvement loan for your house, where you are pre approved for a certain amount, but you only pay interest and off the amounts you use.

More information on the rules for Missouri Fourth-Class Cities is here rules for Missouri Fourth-Class Cities