MO SB803

Repeals and replaces section 137.180, RSMo regarding assessor notification requirements for property valuation increases.

Effective January 1, 2009, charter counties must notify record owners of valuation increases by June 15th and provide projected tax liability information during years of general reassessment.

Effective January 1, 2011, all non-charter counties not subject to existing provisions must notify record owners of valuation increases by June 15th and provide projected tax liability information during general reassessment years.

Projected tax liability notices must include the record owner's name and address, list of all taxing political subdivisions, current and previous tax rates, tax rate ceilings, contact information for subdivisions, and total projected property tax liability.

Effective January 1, 2011, charter counties must also provide residential property owners with assessment method and computation of value details, including property characteristics, comparable sales data, statistical models used, and calculation methodology.