Read 1st time February 2, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To amend chapter 139, RSMo, relating to payment of current real property taxes by adding thereto one new section relating to the same subject, with an effective date.
Section A. Chapter 139, RSMo, is amended by adding thereto one new section, to be known as section 139.047, to read as follows:
139.047. 1. Owners of residential real property shall have the option of annually electing a homestead deferment which shall allow deferment of payment of increases in the assessed value of such real property if:
(a) The real property is the principal residence of all owners thereof;
(b) All owners of the real property complete and file with the county clerk an annual homestead deferment request on a form provided by the department of revenue. The request shall be made before December thirty-first of the tax year for which the homestead deferment is requested and shall be signed by all owners;
(c) In consideration for the deferment, all owners grant a lien on the real property in favor of the state;
(d) All owners of the real property are current on their payment of real and personal property taxes.
2. Upon receipt of a homestead deferment request, the county clerk shall verify that all requirements of subsection 1 of this section are met and shall then notify the requesting property owners and the county assessor that a homestead deferment has been granted for the tax year.
3. The county clerk shall annually calculate the amount of property tax revenue lost by each taxing district within the county as a result of homestead deferments, including the amount of money necessary to reimburse the county recorder for the filing and release of liens on real property filed as a result of homestead deferments, and shall maintain records containing a legal description of each property located within the county for which a homestead deferment has been granted. The clerk shall transmit such information to the department of revenue, and the department of revenue shall notify the treasurer and the general assembly of the total deferral amount to be reimbursed by the state.
4. Upon appropriation by the general assembly, the state treasurer shall transfer an amount equal to the total deferral amount from general revenue to the "Property Tax Deferral Fund", which is hereby created in the state treasury. The fund shall consist of moneys appropriated by the general assembly to such fund from time to time and any money derived from grants, gifts, donations or bequests or from the sale or conveyance of any property acquired through any grant, gift, donation, devise or bequest. The fund shall be administered by the department of revenue for the sole purpose of reimbursing taxing districts for property tax revenues lost as a result of the homestead deferment authorized by this section. Notwithstanding the provisions of section 33.080, RSMo, no portion of the fund shall be transferred to the general revenue fund and no appropriation shall lapse. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Interest and moneys earned on such investments shall be credited to the fund.
5. Upon the transfer by the state treasurer of sufficient moneys to the property tax deferral fund, the department of revenue shall reimburse each county clerk in an appropriate amount and each county clerk shall then reimburse each taxing district within the county in an appropriate amount.
6. The department of revenue shall file for record in the recorder's office of the county in which each owner of a parcel of real estate for which a homestead deferment is granted, a certificate of lien specifying the amount of the tax and interest due and the name of the taxpayer liable for the same. The director of the department of revenue shall within twenty days after filing such certificate notify each owner of the property by first class mail postage prepaid.
(1) The lien shall arise on the January first immediately following the due date of the unpaid real property taxes and shall be continuing and shall attach to the real property granted a homestead deferment pursuant to this section after the filing of the certificate of lien. Unless sooner released or discharged, the lien shall expire ten years after the certificate of lien was filed, unless within such ten-year period, the certificate of lien has been refiled by the director of revenue with the recorder. Unless sooner released or discharged, a timely refiled certificate of lien shall be treated as if filed on the date of filing of the original certificate of lien, and shall expire ten years after the refiling;
(2) No lien filed pursuant to this section shall have a negative impact on the credit of any owner granted a homestead deferment;
(3) If any certificate of lien has been erroneously or improvidently filed, an owner affected by the lien who did not request a homestead deferment may notify the director of revenue. Such owner shall provide the director with the reasons the filing of the certificate of lien is erroneous or improvident as to such person, including that the affected person's name or other identification is similar to the taxpayer's. Upon receipt of the reasons and verification of the erroneous or improvident filing, the director shall release the lien. If the certificate of lien was erroneously or improvidently filed the director shall forthwith make a determination in writing which shall become a public record in the same place the certificate of lien is noted pursuant to this section that the same be expunged from the record and give written notice thereof, duly certified, by certified mail to the recorder of deeds in the county where the same is recorded and upon receipt by the recorder of deeds of the certification the recorder shall immediately cause such record to be expunged. The director shall take whatever steps are necessary to ensure the lien is expunged. The director shall pay a three-dollar fee charged by the recorder when an erroneously or improvidently filed lien is expunged.
(4) The lien imposed pursuant to this subsection may be wholly or partly released by filing for record in the office of the county recorder a release thereof executed by the director of revenue upon the payment of the tax and interest or by final judgment holding such certificate of lien to have been erroneously or improvidently imposed.
(5) Each county recorder shall receive a fee of three dollars which shall be charged for the filing of each certificate of lien and a fee of one dollar and fifty cents for each release of lien filed for record. The department of revenue shall pay such amounts to the county recorder from the property tax deferral fund. The county recorder shall be reimbursed by presenting a statement, showing the number of certificates and releases filed, to the department of revenue each calendar quarter;
(6) The director of revenue shall establish and maintain records for all certificates of lien filed pursuant to this section. The director shall also maintain records of all releases of lien filed pursuant to this section. The provisions of section 32.057, RSMo, to the contrary notwithstanding, the records prepared by the director pursuant to this section, to the extent such information is or may be on file with the recorder, shall be open to public inspection. Such records established and maintained by the director shall not be the official record.
7. Liens filed pursuant to this section shall be equal to the amount of real property tax increase deferred plus interest on such amount from the January first following the original due date of the deferred taxes to the date of payment in full at a rate as determined pursuant to section 32.065, RSMo, and all fees paid to the county recorder in conjunction with the filing and release of liens. The state shall either recoup the amount of real property taxes deferred plus interest and fees upon payment in full by the owner or owners of the real property or upon the next sale or transfer of such real property. The county clerk shall notify the department of revenue of the sale of any property within his or her county upon which a lien is filed pursuant to this section.
8. The department of revenue may promulgate rules and regulations for the administration of this subsection. No rule or portion of a rule promulgated pursuant to the authority of this subsection shall become effective unless it has been promulgated pursuant to the provisions of chapter 536, RSMo.
Section B. Section A of this act shall become effective on January 1, 2002, and shall apply to all taxable years beginning
after December 31, 2001.
Missouri House of Representatives