Missouri SB1790 modifies property tax levy calculations, focusing on adjustments for new construction and reassessments.
Missouri SB1790 modifies provisions relating to the calculation of property tax levies. It mandates that school districts adjust their tax rate ceilings if estimates result in excess revenues. The bill details how tax revenues from state-assessed railroad and utility property should be apportioned among subclasses of real property. It also outlines procedures for political subdivisions to revise tax rates, including provisions for refunds if tax rates are set improperly.
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