Wednesday, February 27, 2008

Senate Passes Property Tax Bill

The Missouri Senate passed legislation Wednesday intended to protect homeowners from unexpected tax increases.

The bill targets cases where taxes rise as a result of reassessments. Jay Nixon's campaign for Governor said the Senate bill adopted several provisions "nearly identical" to the proposal that the Attorney General unveiled in January.

Sen. Mike Gibbons, who is running for Nixon's job, said the bill would require local governments to roll back tax rates so the total tax bill rises by no more than the rate of inflation in certain cases. The legislation also requires local officials to send taxpayers a notice in the spring projecting their tax bill.

"This just goes to show that when common-sense solutions are put on the table, Republicans and Democrats can come together and get the job done," said Nixon campaign spokesperson Oren Shur.

1 comment:

Tom Cunningham said...

I see that this bill will require local governments to possibly roll back their tax rates. I thought that the Hancock Amendment already did that. Maybe this bill also applies to school districts and will keep them from reaping a huge windfall during reassessment and stop the ungodly jumps in taxes at reassessment time, since in the past Hancock appearently did not apply to schools.