Bill > SB1162

This bill modifies Missouri's property tax laws to require counties to allow flexible tax payment options for property owners. Specifically, counties must now permit taxpayers to pay current and delinquent real property taxes in installments, removing previous language that made such installment plans optional. The bill introduces new provisions that allow taxpayers to pay property taxes annually, semi-annually, or quarterly, with tax estimates based on the previous year's liability. If a taxpayer misses an installment, the county may charge interest on the remaining taxes owed. The bill also adds a new requirement that before selling property for delinquent taxes, collectors must notify property owners by registered mail and offer an opportunity to negotiate a compromise, which can include installment payment plans and potential waivers of interest and penalties. Importantly, the bill introduces a significant change that for properties becoming delinquent on or after January 1, 2027, collectors cannot initiate a sale to satisfy delinquent taxes for 15 years, with exceptions for abandoned properties. Financial institutions paying taxes from escrow accounts are exempted from these new installment payment provisions.

Budget and Finance

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=491