21.505. Reimbursement of political subdivisions for loss of tax on household goods, how computed--duties of director of revenue and of state tax commission.

MISSOURI STATUTES AND CODES

21.505. Reimbursement of political subdivisions for loss of tax on household goods, how computed--duties of director of revenue and of state tax commission.

Reimbursement of political subdivisions for loss of tax onhousehold goods, how computed--duties of director of revenueand of state tax commission.

21.505. The state tax commission shall certify the assessedvaluation of all household goods, furniture, wearing apparel andarticles of personal adornment for the calendar year 1973 foreach county and each political subdivision therein to thedirector of revenue of the state of Missouri. The director ofrevenue shall apply the valuation so certified to the rate ofpersonal property tax levied for the calendar year 1973 in eachsuch political subdivision and shall certify the result of thiscalculation to the house and senate appropriations committees ofthe Missouri general assembly. The general assembly shallannually thereafter use the same 1973 results of the calculationby the director of revenue as the basis for the appropriation ofmoney from general revenue to the various political subdivisionsfor approximate reimbursement of revenue lost because of theexemption from taxation of household goods, furniture, wearingapparel and articles of personal use and adornment.