SB 1274 Modifies procedures for reassessment of property
LR Number:4930S.02I Fiscal Note:4930-02
Committee:Ways and Means
Last Action:03/12/02 - Second Read and Refferred S Ways & Means Committee Journal page:S517
Effective Date:August 28, 2002
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Current Bill Summary

SB 1274 - This act divides the roll-back requirement into personal property, taken in the aggregate, and each individual subclass of real property, as those subclasses are defined in the Constitution. Similar language is carried throughout the remainder of Section 137.073, as necessary, to effectuate this change (Section 137.073).

If a county lowers the rate below the rate ceiling, the lower rate becomes the new ceiling (Section 137.073.5).

When reporting to the Clerk of the County Commission, each taxing authority must report its proposed tax rate calculated to four decimal points (Section 137.073.6).

The threshold for requiring a physical inspection of the property is lowered from seventeen percent increased assessed valuation to fifteen percent (Section 137.115.10).

Before a physical inspection is completed the assessor must notify the property owner of his or her rights regarding the inspection. The property owner can request an interior inspection within thirty days (Section 137.115.11).

The elements of the physical inspection are set forth in greater detail. A mere "drive-by inspection" is not considered sufficient (Section 137.115.12).

A tax collector can accept credit cards as a form of payment for taxes, but shall not add a surcharge in excess of the actual fees charged by the credit card bank (Section 137.115.13).

A taxpayer can bring suit to enforce any of the provisions of Section 137.115, and receive attorney's fees and expenses if they prevail (Section 137.115.14).

When appealing an assessment to the board of equalization, the assessor shall have the burden of proving that the assessment reflects the true market value of the property. If the assessor cannot meet this burden, the property owner shall prevail as a matter of law (Section 138.060.1).

The Boards of Equalizations in first class charter counties must provide a taxpayer who has appealed an assessment a written finding of facts and conclusions of law (Section 138.100.3).