Bill > SB1410

This bill modifies Missouri state law regarding property tax payment options for counties. Specifically, the bill removes a previous exclusion for township counties, allowing all counties to provide taxpayers with more flexible payment schedules for real and personal property taxes. The new law would permit county governing bodies to establish annual, semiannual, or quarterly tax payment plans, with payments based on an estimated tax liability calculated from the previous year's tax bill. Under this system, taxpayers would make estimated payments throughout the year and then settle up at year's end, either paying any additional amount owed or receiving a refund for overpayment. The bill includes provisions that if a taxpayer misses an installment, the county may charge interest on the remaining tax balance. Importantly, the bill excludes financial institutions paying taxes from escrow accounts from this new payment structure. Counties implementing this payment plan must first ensure they provide their tax collector with sufficient funds to administer the new system. This legislation aims to provide taxpayers with more manageable property tax payment options and give counties more flexibility in tax collection.

Budget and Finance

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=2456