All Taxation And Revenue - Property Legislation - Missouri

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 1276 - Under current law, municipalities located within counties subject to the authority of the East-West Gateway Council of Governments, except those located in Franklin County, are required to create a county-wide TIF commission for the approval of tax increment finance projects. This act removes reference to the East-West Gateway Council of Governments and specifically requires municipalities located within the counties of Jefferson, St. Louis and St. Charles to create county-wide TIF commissions for approval of projects. The act provides membership requirements similar to those provided under current law, as well as a time-line for public hearings on projects and determinations of the commission. Failure of the county-wide TIF commission to make a determination on any given project within the time provided within the act will result in the commission being deemed to have made a recommendation in opposition to such project. The act repeals a doubly-enacted version of Section 99.[...]

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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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HCS/SCS/SB 939 - Currently, the board of supervisors of a levee district must levy a uniform tax of not more than one dollar per acre upon each acre of land and each mile of right-of-way of all public service corporations within such district. The tax is used to pay expenses incurred before the board is empowered to levy a property tax under Section 245.180, RSMo. This act would require a levee district to levy such a tax for not more than eight dollars. Currently, the board of supervisors of a drainage district must levy a uniform tax of not more than one dollar per acre upon each acre of land. The tax is used to pay expenses incurred before the board is empowered to levy a property tax under Section 242.450, RSMo. This act would require a drainage district to levy such a tax for not more than eight dollars. Currently, only owners of 25% of the property in certain drainage districts can petition a court for readjustment of the assessment of benefits for the property in the district.[...]

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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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