COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3031-01
Bill No.: SB 761
Subject: Counties; County Government; Property, Real & Personal; Taxation & Revenue-Property
Type: Original
Date: February 4, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Local Government | $0 * | $0 * | $0 * |
* offsetting payments from counties, and revenues to other political subdivisions.
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials from the State Tax Commission assume this proposal provides that the county reimburse political subdivisions for property tax revenues lost as the result of the county purchasing the property for private development, thus providing an exemption from property taxes. This proposal will not directly affect the State Tax Commission. There will be an effect on local governments, but it is impossible to determine the number of properties or the value of properties which are to be purchased by the county or those which have already been purchased by the county.
Officials from the Department of Revenue assume this proposal wold have no impact on their organization.
No response was received from Callaway County, Cape Girardeau County, Cass County, Clay County, Green County, Platte County, or Pettis County.
Oversight assumes this proposal would result in offsetting payments in an unknown amount from counties to other political subdivisions. Oversight assumes it is not possible to estimate the amount of payments which would be required, since the amount of property purchased by counties for private development purposes is unknown.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| Revenues - Political subdivisions | |||
| Payments in lieu of tax | Unknown | Unknown | Unknown |
| Cost - Counties | |||
| Payments in lieu of tax | (Unknown) | (Unknown) | (Unknown) |
| $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 proposal would require counties to make payments in lieu of taxes to political subdivisions for property which was purchased by the counties for the purpose of private development.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
State Tax Commission
Department of Revenue
NOT RESPONDING
Callaway County
Cape Girardeau County
Cass County
Clay County
Green County
Platte County
Pettis County
Mickey Wilson, CPA
Acting Director
February 4, 2002