Senate Bill 210 - Summary

• Repeals and replaces section 137.073, RSMo, governing property tax levy revisions for political subdivisions in Missouri

• Requires county clerks and assessors to notify political subdivisions of changes in assessed property valuations by subclass and mandates immediate revision of tax rates to produce substantially the same tax revenue as the previous year, excluding new construction and improvements

• Establishes tax rate ceiling limits based on the highest rate in effect after 1980, with increases only allowed by voter approval at a simple majority or higher as required by law

• Allows political subdivisions to revise inflationary assessment growth factors limited to actual assessment growth or 5% of the consumer price index, whichever is lower

• Requires school districts and counties levying sales taxes to include revenue reductions from sales tax in their tax revenue calculations and provides procedures for state auditor review and enforcement of tax rate compliance