PROPERTY TAX ASSESSMENTS

This act provides that if the common level of assessment, as defined in the act, in a subclass is lower than the individual level of assessment, as defined in the act, of any parcel in such subclass, then the individual level of assessment for such parcel shall be reduced to the common level of assessment. Such reduction shall be made upon an appeal by the taxpayer. (Section 137.132)

PROPERTY TAX APPEALS

Current law provides that, in any appeal in which an assessor fails to provide evidence of a physical inspection required by law, the taxpayer shall prevail as a matter of law. This act also provides that the assessor's increased assessed valuation shall be void in its entirety and the previous assessed valuation shall be applied. (Section 138.060)

Current law authorizes any first class charter county or city not within a county to require, by ordinance or charter, the reimbursement of just and reasonable appraisal costs, attorney fees, and court costs resulting from hearings before the State Tax Commission for taxpayer appeals of property assessments. This act requires such reimbursements. This act also increases the maximum amount of fees to be reimbursed from $1,000 to $5,000 for residential property appeals, and from $4,000 to $5,000 for utility, industrial railroad, or other subclass three property appeals. (Section 138.434)

PROTESTED PROPERTY TAXES

Current law requires a taxpayer to file a written protest of property taxes with the collector at the same time such taxpayer makes full payment of such taxes. This act repeals such requirement.

This act also provides that the interest due to a taxpayer whose protested taxes were distributed to a taxing authority shall be calculated from the date that the protested taxes were distributed to the taxing authority through the date of the refund.

Any taxpayer determined by a circuit court or the State Tax Commission to be entitled to a refund of property taxes shall receive such refund from the collector within thirty days of the final determination of the refund amount by the circuit court or State Tax Commission. If such refund is not issued within thirty days, the taxpayer shall be entitled to interest on the refund as calculated under current law. (Section 139.031)

This act is identical to SB 1001 (2024) and is substantially similar to HCS/HB 2445 (2024), SS/SB 95 (2023), and SB 1108 (2022), and to provisions in SS/SCS/SB 15 (2023).

JOSH NORBERG

The act provides that any taxpayer not receiving such costs and fees derived from any decision made on or after January 1, 2024, shall have a cause of action against the assessor to recover such costs and fees, as well as the costs and fees associated with initiating such cause of action. Such taxpayer shall also be entitled to recover damages in an amount equal to ten percent of the original assessed value of the property that was erroneously classified.

JOSH NORBERG