Bill > HB1497

This bill modifies provisions governing tax rate ceiling increases for political subdivisions, particularly focusing on how local governments can adjust their tax rates in response to changes in property assessed valuation. The bill provides detailed definitions and procedures for how political subdivisions, especially school districts, can calculate and adjust their tax rates while ensuring they do not collect more tax revenue than permitted by law. Key provisions include requiring political subdivisions to revise tax rates to produce substantially the same amount of tax revenue as the previous year, accounting for changes in property valuation, and establishing rules for how tax rate increases can be approved by voters. The bill also introduces new requirements for transparency, such as requiring political subdivisions to notify county clerks of valuation changes and mandating that the state auditor review and potentially challenge proposed tax rates. Additionally, the bill allows taxpayers to file complaints and potentially bring class action lawsuits if they believe a taxing authority is not complying with the prescribed tax rate calculation methods. The legislation aims to provide a more systematic and fair approach to local tax rate setting, ensuring that tax revenues remain relatively stable while allowing for modest adjustments based on inflation and new construction.

https://house.mo.gov/Bill.aspx?bill=HB1497&year=2025&code=R