HB 136 -- Property Tax Assessment

Sponsor:  Hosmer

This bill makes various changes related to the assessment of
real property for purposes of real property taxation.  The bill:

(1)  Requires real property that is exempt from real property
taxation because it is owned by a tax exempt organization to be
exempt only after the property is used or occupied by the
organization for the purposes for which the organization is
exempt;

(2)  Requires the assessor of each county to distribute to each
exempt organization within the county a questionnaire to assist
in determining if the organization's property is exempt under
the limits imposed under the bill;

(3)  Changes the reassessment cycle of real property from every
2 years to every 4 years; and

(4)  Changes the definition of "comparable property" used in
assisting an assessor in determining the value of real
property.  Under current law, any comparable property must be
located within one mile of the property being valued.  The bill
requires the comparable property to be within one-half mile of
the property being valued.

The bill will become effective January 1, 2002.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:42 am