SS/HCS/HB 999 - This act modifies provisions relating to property taxes.PROPERTY TAX CREDIT
This act authorizes a county to grant a property tax credit to eligible taxpayers residing in such county, provided such county has adopted an ordinance authorizing such credit, or a petition in support of such credit is delivered to the governing body of the county and is subsequently submitted to and approved by the voters, as described in the act.
Eligible taxpayers are defined as residents who: 1) are the owner of record of or have a legal or equitable interest in a homestead; and 2) are liable for the payment of real property taxes on such homestead.
The amount of the property tax credit shall be equal to the difference between the real property tax liability on the homestead in a given year minus the real property tax liability on such homestead in the year in which the taxpayer became an eligible taxpayer, provided that the real property tax liability on an eligible taxpayer's homestead as determined in the taxpayer's initial credit year may be increased by no more than five percent during a reassessment year.
A credit granted pursuant to this act shall be applied when calculating the eligible taxpayer's property tax liability for the tax year. The amount of the credit shall be noted on the statement of tax due sent to the eligible taxpayer by the county collector.
The amount of property tax credits authorized by a county pursuant to this act shall be considered tax revenue actually received by the county for the purposes of calculating property tax levies. (Section 137.1100)
This provision is identical to SS/SCS/SB 87 (2025) and is similar to a provision in SS#2/SCS/SB 3 (2025 First Extraordinary Session).
STATE TAX COMMISSION EQUALIZATION ORDERS
This act provides that a county shall have sixty days to comply with an order of the State Tax Commission that reduces the county's final assessed valuations. The Commission may grant one extension of thirty days, after which the county shall be deemed to be noncompliant. The Commission may direct the Director of Revenue to withhold up to one hundred percent of local sales and use tax revenues due to such noncompliant county until a determination is made by the Commission that the county has come into compliance with the Commission's order.
A noncompliant county may seek judicial review of the Commission's determination of noncompliance. If the court finds in favor of the county, the withheld moneys shall be returned to the county with interest.
Local sales and use taxes withheld by the Director of Revenue, shall be deposited into the "County Assessment Noncompliance Trust Fund", which is created by the act. (Section 138.425)
This provision is substantially similar to a provision in HB 660 (2025).
JOSH NORBERG