| SB 0648 | Allows all counties and St. Louis City to opt out of property tax levy inflation adjustments |
| Sponsor: | Goode | Co-Sponsor(s) | ||
| LR Number: | 3217S.02I | Fiscal Note: | 3217-02 | |
| Committee: | Ways and Means | |||
| Last Action: | 01/22/02 - Hearing Conducted S Ways & Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2002 | |||
SB 648 This act allows any county or the City of St. Louis to opt out of the use of an inflation growth factor to increase property levy rates. The entity may opt out by means of: (1) An act of the entity's governing body; (2) A referendum submitted to the voters upon act of the entity's governing body; or (3) A referendum submitted to the voters upon initiative petition.
Passage of the referendum would prohibit the entity's
governing body from adjusting the rate or rates of levy to
increase the amount of property tax revenue to allow for
inflationary growth that may occur between periods of assessment.
JEFF CRAVER