Mo. Senate passes bill targeting property tax increases
Wednesday, February 27, 2008
JEFFERSON CITY, Mo. (AP) -- The Missouri Senate passes legislation intended to protect homeowners from unexpected tax increases.
Senate President Pro Tem Michael Gibbons says his bill targets cases where property taxes rise as a result of reassessments in property values.
In those cases, Gibbons' bill would require local governments to roll back tax rates so the total tax bill rises by no more than the rate of inflation.
The legislation also requires local officials to send taxpayers a notice in the spring projecting their tax bill. That's meant to eliminate some of the surprise when tax bills arrive late in the year.
The bill also increases state tax breaks available to low-income senior citizens.
Senators passed the bill by a 33-0 vote. It now goes to the House.