139.053. Property taxes, how paid--estimates--interest--refunds--exemption for property taxes paid by financial institutions.

MISSOURI STATUTES AND CODES

139.053. Property taxes, how paid--estimates--interest--refunds--exemption for property taxes paid by financial institutions.

Property taxes, how paid--estimates--interest--refunds--exemption forproperty taxes paid by financial institutions.

139.053. 1. The governing body of any county, excluding townshipcounties, may by ordinance or order provide for the payment of all or anypart of current real and personal property taxes which are owed, at theoption of the taxpayer, on an annual, semiannual or quarterly basis at suchtimes as determined by such governing body.

2. The ordinance shall provide the method by which the amount ofproperty taxes owed for the current tax year in which the payments are tobe made shall be estimated. The collector shall submit to the governingbody the procedures by which taxes will be collected pursuant to theordinance or order. The estimate shall be based on the previous tax year'sliability. A taxpayer's payment schedule shall be based on the estimatedivided by the number of pay periods in which payments are to be made. Thetaxpayer shall at the end of the tax year pay any amounts owed in excess ofthe estimate for such year. The county shall at the end of the tax yearrefund to the taxpayer any amounts paid in excess of the property tax owedfor such year. No interest shall be paid by the county on excess amountsowed to the taxpayer. Any refund paid the taxpayer pursuant to thissubsection shall be an amount paid by the county only once in a calendaryear.

3. If a taxpayer fails to make an installment payment of a portion ofthe real or personal property taxes owed to the county, then such countymay charge the taxpayer interest on the amount of property taxes still owedfor that year.

4. Any governing body enacting the ordinance or order specified inthis section shall first agree to provide the county collector withreasonable and necessary funds to implement the ordinance or order.

5. Subsection 1 of this section shall not apply to payment for realproperty taxes by financial institutions, as defined in section 381.410,RSMo, who pay tax obligations which they service from escrow accounts, asdefined in Title 24, Part 3500, Section 17, Code of Federal Regulation, asamended.