Bill > SB1293

This bill modifies provisions related to property taxes in Missouri, focusing on several key changes. First, it introduces a requirement that any ballot measure seeking to add, change, or modify a real property tax must express the effect within the ballot language in terms of the change in real dollars owed per $100,000 of a property's market valuation. The bill also establishes new rules for how taxing authorities calculate and adjust tax rates, including provisions that require tax rate increases to be applied equally across all property subclasses. Additionally, the bill requires more transparency in tax rate setting, mandating that political subdivisions provide detailed documentation to the state auditor when proposing tax rates and allowing for potential legal challenges if tax rates do not comply with state law. The legislation aims to provide more clarity and fairness in property tax calculations, ensuring that taxpayers have a clearer understanding of how proposed tax changes will impact their financial obligations and that tax rate adjustments are applied consistently across different types of property.

Budget and Finance

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=476