Bill > HB388

This bill modifies the existing law regarding property tax payments by allowing counties (except township counties) to offer taxpayers more flexible payment options for their real and personal property taxes. Under the proposed changes, county governing bodies can create ordinances that permit taxpayers to pay their property taxes annually, semiannually, or quarterly, with the specific payment schedule to be determined by the county. The bill establishes a process where tax payments will be estimated based on the previous year's tax liability, divided into the chosen number of payment periods. At the end of the tax year, taxpayers will be required to pay any additional amounts owed beyond the initial estimate, or receive a refund if they have overpaid. The county can charge interest if a taxpayer misses an installment payment, and the county must first agree to provide the necessary funds to the county collector to implement this payment system. Notably, the bill excludes financial institutions paying taxes from escrow accounts from these new payment provisions. This legislation aims to provide more manageable and flexible tax payment options for property owners while maintaining the county's ability to collect required tax revenues.

Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB388&year=2025&code=R