137.720. Percentage of ad valorem property tax collections to be deducted for deposit in county assessment fund--additional deductions (St. Louis City and all counties)--expiration date. - Missouri Statutes

Percentage of ad valorem property tax collections to be deducted fordeposit in county assessment fund--additional deductions (St.Louis City and all counties)--expiration date.

137.720. 1. A percentage of all ad valorem property tax collectionsallocable to each taxing authority within the county and the county shall bededucted from the collections of taxes each year and shall be deposited intothe assessment fund of the county as required pursuant to section 137.750.The percentage shall be one-half of one percent for all counties of the firstand second classification and cities not within a county and one percent forcounties of the third and fourth classification.

*2. Prior to July 1, 2009, for counties of the first classification,counties with a charter form of government, and any city not within a county,an additional one-eighth of one percent of all ad valorem property taxcollections shall be deducted from the collections of taxes each year andshall be deposited into the assessment fund of the county as required pursuantto section 137.750, and for counties of the second, third, and fourthclassification, an additional one-quarter of one percent of all ad valoremproperty tax collections shall be deducted from the collections of taxes eachyear and shall be deposited into the assessment fund of the county as requiredpursuant to section 137.750, provided that such additional amounts shall notexceed one hundred thousand dollars in any year for any county of the firstclassification and any county with a charter form of government and fiftythousand dollars in any year for any county of the second, third, or fourthclassification.

*3. Effective July 1, 2009, for counties of the first classification,counties with a charter form of government, and any city not within a county,an additional one-eighth of one percent of all ad valorem property taxcollections shall be deducted from the collections of taxes each year andshall be deposited into the assessment fund of the county as required pursuantto section 137.750, and for counties of the second, third, and fourthclassification, an additional one-half of one percent of all ad valoremproperty tax collections shall be deducted from the collections of taxes eachyear and shall be deposited into the assessment fund of the county as requiredpursuant to section 137.750, provided that such additional amounts shall notexceed one hundred twenty-five thousand dollars in any year for any county ofthe first classification and any county with a charter form of government andseventy-five thousand dollars in any year for any county of the second, third,or fourth classification.

4. The county shall bill any taxing authority collecting its own taxes.The county may also provide additional moneys for the fund. To be eligiblefor state cost-share funds provided pursuant to section 137.750, every countyshall provide from the county general revenue fund an amount equal to anaverage of the three most recent years of the amount provided from generalrevenue to the assessment fund; provided, however, that capital expendituresand equipment expenses identified in a memorandum of understanding signed bythe county's governing body and the county assessor prior to transfer ofcounty general revenue funds to the assessment fund shall be deducted from ayear's contribution before computing the three-year average, except that alesser amount shall be acceptable if unanimously agreed upon by the countyassessor, the county governing body, and the state tax commission. The countyshall deposit the county general revenue funds in the assessment fund asagreed to in its original or amended maintenance plan, state reimbursementfunds shall be withheld until the amount due is properly deposited in suchfund.

*5. For all years beginning on or after January 1, 2010, any propertytax collections deposited into the county assessment funds provided for insubsection 2 of this section shall be disallowed in any year in which thestate tax commission notifies the county that state assessment reimbursementfunds have been withheld from the county for three consecutive quarters due tononcompliance by the assessor or county commission with the county'sassessment maintenance plan.

6. The provisions of subsections 2, 3, and 5 of this section shallexpire on December 31, 2015.

(L. 1980 S.B. 679 § 2, A.L. 1981 H.B. 114 & 146, A.L. 1989 H.B. 181 & 633, A.L. 1999 S.B. 219, A.L. 2004 H.B. 795, et al. merged with S.B. 960, A.L. 2005 H.B. 58 merged with S.B. 210, A.L. 2008 S.B. 711)

*Subsections 2, 3, and 5 expire 12-31-15