We have made an improved estimate of the {sup 229m}Th isomer energy. The new value, 7.8(5) eV, includes an estimate of possible spectral contamination effects due to the out-of-band E2 transition from the 42.43-keV 7/2+ member of the [633] ground state band to the 3/2+ [631] {sup 229m}Th bandhead and so a weak and unresolved transition a few eV different in energy. We estimate a 2% branching ratio for this unobserved transition in the 42.43-keV 7/2+ [633] deexcitation. The excitation of the {sup 229m}Th level is increased from the previously reported value of 7.6(5) eV to the new best value of 7.8(5) eV when this branch is included in the analysis.