ST. CHARLES COUNTY, MO -The Missouri State Auditor released her findings after investigating how the board of a special taxing district in S.t Charles County was spending your money.
Auditor Nicole Galloway discovered that the Barathaven Community Improvement District charged taxpayers tens of thousands of dollars too much for a project that called for building a housing subdivision as well as a commercial district.
Residents agreed to increase their property taxes to set up a special taxing district. But someone calculated wrong and taxpayers got charged $34,000 too much. Now the auditor is demand that the money be paid back to the taxpayers.
That's not the only problem the Auditor found with the CID. She found that even though your dollars were used to pay hundreds of thousands of dollars in interest payments on the loan you still haven't touched the principal. The money was borrowed at a 9 percent interest rate, that members of the CID Board admit they'll have trouble paying back.