SS/HB 616 - This act modifies provisions relating to assessment of property taxes.
RENTAL MERCHANDISE (137.018)
This act specifies that certain merchandise whether or not subject to a short term rental and which will ultimately be sold shall be considered inventory for property tax purposes and exempt from taxation. The act is limited to general rental centers and construction, mining, and forestry equipment rental.
This provision is similar to SB 314 (2015) and HB 879 (2015). This provision is similar to a provision contained in SCS/HCS/HB 613 (2015).
NEWLY CREATED POLITICAL SUBDIVISIONS (137.081)
This act specifies that if a political subdivision is created before July first, it shall be considered effective for property tax assessment purposes on the date of certification of the vote approving such political subdivision. If the political subdivision is created on or after July first, it shall be considered effective as of the beginning of the following assessment year.
This provision is identical to SB 364 (2015) and HB 1242 (2015). This provision is identical to a provision contained in the perfected version of HB 879 (2015).