Top Law and Government Legislation regarding 'Property, Real And Personal' in Missouri

CCS/HCS/SS/SCS/SB 711 - This act modifies laws regarding property taxation by requiring tax rate rollbacks by all political subdivisions in reassessment years, changing the way voter-approved tax increases are applied to assessed values, changing the time line for the assessment and appeal of property taxes. The imposition of penalties and interest on the erroneous payments of property taxes is prohibited when there is clear and convincing evidence that the county made an error in determining the tax amount due. Any penalty or interest paid by the taxpayer will be refunded upon the discovery of the error or omission. Voter-approved property tax rate increases must to be applied to a political subdivision's most recent total assessed valuation, as certified by the city or county on or before the date of the election. Every political subdivision in a reassessment year must roll back its prior year's tax rate regardless of whether the political subdivision was levying the tax at its [...]

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SB 1285 - Effective January 1, 2009, for all charter counties and the City of St. Louis, assessors are required to provide the city or county clerks with assessment books on or before March first of each year. The city or county clerks must make abstracts of the assessment books showing the aggregate amounts of different types of property and the valuations of each type for each political subdivision levying taxes on property. The governing bodies of political subdivisions must use the information provided in the abstracts to informally project non-binding tax rate levies and provide such projected levies to the clerk no later than April 15th of each year. Utilizing the projected tax levies, the county collector must then calculate the projected tax liability for each property for which the assessor intends to provide a notice of increased assessed value by April thirtieth. Failure by a political subdivision to provide projected tax levies by April 15th will result in a twenty percent reduction [...]

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SB 1213 - This act enables senior citizens, fifty-nine and a half years or older, and disabled persons to delay paying property taxes on their residences. The act establishes eligibility criteria for the taxpayer and the property for participating in the deferral. Taxpayers desiring deferral of property taxes must file an application with the county assessor who will forward such application to the department of revenue for a determination of eligibility. If the application is approved, the department of revenue must notify the county assessor who will make a notation on the tax rolls identifying the property as tax-deferred. Each year, the Department of Revenue will allocate funds, from the newly created property tax deferral revolving account to each county with properties subject to tax deferral, in an amount equal to the taxes deferred within each such county. All deferrals of tax will result in a lien, to be held by the Department of Revenue, against the property of the taxpayer [...]

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