SB 509 - This act authorizes the governing body of St. Louis City to designate areas within the city as blighted areas and exempt, in whole or in part, improvements made to real property in such areas from property taxes. The governing body is required to provide notice to affected taxpayers and political subdivisions and hold public hearings prior to the designation of a blighted area and before any specific grant of property tax exemption. The designation of a blighted area will expire after twenty-five years and properties may only receive an exemption during the time period in which such blight designation is effective. This act is similar to SB 224 (2011).
EMILY KALMER