137.721. Percentage of ad valorem property tax collections to be deposited in county assessment fund (certain first class counties). - Missouri Statutes

Percentage of ad valorem property tax collections to be deposited incounty assessment fund (certain first class counties).

137.721. Notwithstanding the provisions of section 137.720, in allcounties which become counties of the first classification after September1, 1996, one percent of all ad valorem taxes allocable to the county andeach taxing authority within the county shall continue to be deducted fromtaxes collected on the first five hundred million dollars of assessedvaluation, and one-half percent collected on the remainder, and depositedin the assessment fund. The one-percent fee shall be assigned among thepolitical subdivisions by the assessor, who shall determine the percentageof total valuation in the county divided into five hundred million dollars.The collector shall retain one percent of that percentage of each politicalsubdivision's property taxes, and one-half percent of the remainder, forthe assessment fund.

(L. 2000 S.B. 894, A.L. 2003 S.B. 16, A.L. 2008 S.B. 711)