SB 174 Modifies provisions of law relating to property taxation
Sponsor: Griesheimer Co-Sponsor(s)
LR Number: 0966S.03C Fiscal Note: 0966-03
Committee: Ways and Means
Last Action: 5/15/2009 - S Informal Calendar S Bills for Perfection--SB 174-Griesheimer and Goodman, with SCS, SS#2 for SCS & SA 2 (pending) Journal Page:
Title: SCS SB 174 Calendar Position:
Effective Date: Emergency Clause

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Current Bill Summary


SS/SCS/SB 174 - This act modifies laws regarding property taxation by requiring tax rate rollbacks by school districts in reassessment years. For tax year 2009, political subdivisions are authorized to levy a property tax rate sufficient to generate as much revenue as was produced in the 2007 tax year excluding new construction and improvements as long as such rate does not exceed the greater of the rate in effect for the 1984 tax year or the most recent voter approved rate. The time line for the assessment, levy and appeal of property taxes is changed with regard to certain counties. The act modifies laws regarding the payment of taxes in dispute. Under current law, for the homestead preservation tax credit the homestead exemption limit will be based on the increase in tax liability from the base year to the year prior to the application year for all applications for credits filed between Dec 31, 2008, and Dec 31, 2011. This act modifies the term base year with regard to new homeowners who are approved for the first time after satisfying the three year ownership requirement so that the base year for such taxpayers will be the year following the first year in which such taxpayer acquired ownership of the homestead. The act adds two alternate members to the St. Louis City board of equalization and changes the date by which members must be appointed from the second Monday in May to the first day of July. The City of St. Louis and all charter counties are allowed to opt-out of the requirement that they must provide taxpayers with notices of projected tax liability for the 2011 reassessment year. The effective date for all other counties for the projected tax liability notice requirement is moved back to January 1, 2013. Assessors and collectors are required to submit estimates of the costs necessary to comply with the projected tax liability notice requirement to the state tax commission. The act creates a fund to receive appropriations and allocate moneys to assessors and collectors to offset the costs of implementing the projected tax liability notice requirements. The act repeals the duty of the state tax commission to develop software programs to produce projected tax liability notices.

This act contains an emergency clause.

JASON ZAMKUS