HB 389 -- Property Tax:  Reimbursement of Tax on Motor Vehicles

Co-Sponsors:  Portwood, Dempsey, Bearden

This bill creates a system of reimbursement of personal property
taxes paid on non-business motor vehicles with moneys received
from the Tobacco Master Settlement Agreement.

The bill requires each assessor, bill preparer, and collector of
the various counties and the City of St. Louis to determine
qualified taxpayers eligible for reimbursement and the amount of
property taxes paid and to certify the information to the
Director of Revenue.  The director will then directly reimburse
the taxpayer based on the amounts certified.

The percentage of reimbursement of property taxes paid to the
taxpayer will be phased-in over a period of 5 years on the
following schedule:  12.5% in tax year 2002; 27.5% in tax year
2003; 47.5% for tax year 2004; 70% for tax year 2005; and 100%
for tax year 2006 and thereafter.

The bill creates the Personal Property Tax Relief Fund in the
state treasury.  Moneys received from the Tobacco Master
Settlement Agreement in an amount necessary to fully reimburse
the property tax reimbursement, subject to appropriation, will
be transferred to the Personal Property Tax Relief Fund from the
Tobacco Settlement Fund.

The bill also details administrative responsibilities of the
various officers of the political subdivisions and the Director
of Revenue as they relate to the property tax reimbursement
system.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:43 am