COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 1116-02
Bill No.: SB 487
Subject: Taxation and Revenue - Property: Counties
Type: Original
Date: February 23, 2001
FISCAL SUMMARY
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Local Government | |||
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the State Tax Commission indicated that proposal would not affect that agency.
Officials of the Cole County Assessor noted that the fiscal impact of this proposal would depend upon which properties were acquired by counties and removed from tax rolls.
| FISCAL IMPACT - State Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| POLITICAL SUBDIVISIONS | |||
| Income - Payments in Lieu of Taxes from Counties | $0 to Unknown | $0 to Unknown | $0 to Unknown |
| Costs - Payments in Lieu of Taxes by Counties | ($0 to Unknown) | ($0 to Unknown) | ($0 to Unknown) |
| ESTIMATED NET EFFECT ON POLITICAL SUBDIVISIONS | $0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposals would require counties and the City of St. Louis to document property acquired, and exempt from property taxes, after August 28, 2001, and to make payments in lieu of property taxes to political subdivisions which would have received taxes from those properties if they had not been acquired by counties.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. The proposal would not affect Total State Revenue.
SOURCES OF INFORMATION
State Tax Commission
Cole County Assessor
Not Responding: St. Louis City Assessor
Jeanne Jarrett, CPA
Director
February 23, 2001