Even though the Francis Howell School District's 2011 property tax rate has increased from last year, most homeowners likely will see their tax bill decrease, said Kevin Supple, the district's chief financial officer.

The total assessed valuation of property within the district decreased 3.1 percent this year, Supple said. Even with the increase in the tax rate, the reduced property value will result in smaller tax bills, he said.

In a previous story, the Journal failed to figure in the reduction in assessed valuation in calculating an average tax bill.

The Board of Education on Sept. 28 approved a 2011 property tax rate of $5.1352 per $100 assessed valuation. The decision overturned the board's Sept. 15 vote to increase the tax rate to $5.1852 from the 2010 rate of $5.0008.

The new $5.1352 rate includes $2.2318 for the incidental fund, $2.1721 for the teacher fund, $0.6713 for the debt service fund and $0.6 for the capital projects fund.

Under the new rate, the owner of a $150,000 home would pay $1,463.53 in 2011 school district property taxes. That is $5.88 less than the $1,469.41 the same owner would have paid under the 2010 rate.

The reason, Supple said, is that a home assessed at $150,000 in 2011 would have had an assessed valuation of $154,650 last year.

Property values in the district declined an average 3.1 percent this year due to reassessment. As of August, the district's total assessed valuation was $2.2 billion, down $83 million from the December 2010 assessed valuation of $2.3 billion.

State law allows districts to increase their tax rates when property values decrease. During years when assessed valuation increases, districts must roll back their tax rates.

"We were only able to change the rate because the value of the properties went down," Supple said. "A higher tax rate against lower property value produces roughly the same revenue."