MO HB104

Requires governing bodies to compute final improvement costs and apportion them equitably among benefitted properties, then assess costs as special assessments by resolution or ordinance.

Requires city or county clerks to mail notice to property owners describing parcels being assessed, the special assessment amount, and payment options including lump sum or annual installments.

Special assessments are payable in substantially equal annual installments concurrent with general property taxes, bearing interest at a rate not to exceed the rate permitted for bonds under section 108.170.

County collectors in first classification counties with between 135,400 and 135,500 inhabitants may collect a fee prescribed by section 52.260 for assessment collection.

Special assessments create a lien on property with the same effect as a tax lien, which may be foreclosed through land tax sale under chapter 140 or 141, or by judicial foreclosure proceeding at the governing body's option.