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Missouri lawmakers are considering numerous options to enact
property assessment and taxation reform in 2008. In addition to
recommendations from a Blue Ribbon Task Force on Property Tax,
the legislature must consider several bills. As always, some
proposals are more viable than others.
Task Force
Recommendations
Last August, House Speaker Rod Jetton announced
the creation of a task force to analyze property taxes in
Missouri. The Task Force on Property Tax soon began gathering
information and holding public hearings throughout the state.
In January, members released their
report, which included three dozen divergent proposals. Some
of the recommendations include:
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Require tax districts to rollback rates to remain revenue
neutral when values increase
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Allow a secondary appeal process for properties with
increased assessed valuations
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Gradually standardize the assessment rates among
residential, commercial and agricultural properties
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Mandate a computer system and software package to be used
for all counties to equalize assessments statewide
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Eliminate property taxes and go to a
statewide sales tax
Meanwhile, lawmakers are making their own
proposals on ways to reform the property tax system. Senator
Michael Gibbons introduced
Senate Bill 711, which holds tax jurisdictions to revenue
increases based solely on inflation and new construction. Voter
approval would be needed for any other tax hikes. To remain
revenue neutral, jurisdictions would have to roll back tax rates
when assessed values increase.
Another provision of SB 711 provides earlier
notification of estimated taxes. An estimate would be sent with
reassessment notices in the spring. This would allow more time
for taxpayers to pursue appeals. Local assessors have expressed
concern over their ability to comply with an earlier
notification mandate. They are concerned it will increase their
workload and require additional staff.
April 1 is the final date for the introduction
of bills this year. The session ends May 16 and the legislature
must adjourn on May 30.
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