State Codes and Statutes
Statutes > Missouri > T07 > C099 > 99_855Tax rates for districts containing redevelopment projects, method forestablishing--county assessor's duties--method of extending taxes toterminate, when.
99.855. 1. If a municipality by ordinance provides for taxincrement allocation financing pursuant to sections 99.845 and99.850, the county assessor shall immediately thereafterdetermine total equalized assessed value of all taxable realproperty within such redevelopment project by adding together themost recently ascertained equalized assessed value of eachtaxable lot, block, tract, or parcel of real property within suchproject, and shall certify such amount as the total initialequalized assessed value of the taxable real property within suchproject.
2. After the county assessor has certified the totalinitial equalized assessed value of the taxable real property insuch redevelopment project, then, in respect to every taxingdistrict containing a redevelopment project, the county clerk, orany other official required by law to ascertain the amount of theequalized assessed value of all taxable property within suchdistrict for the purpose of computing any debt service levies tobe extended upon taxable property within such district, shall inevery year that tax increment allocation financing is in effectascertain the amount of value of taxable property in aredevelopment project by including in such amount the certifiedtotal initial equalized assessed value of all taxable realproperty in such area in lieu of the equalized assessed value ofall taxable real property in such area. For the purpose ofmeasuring the size of payments in lieu of taxes under sections99.800 to 99.865, all tax levies shall then be extended to thecurrent equalized assessed value of all property in theredevelopment project in the same manner as the tax ratepercentage is extended to all other taxable property in thetaxing district. The method of extending taxes established underthis section shall terminate when the municipality adopts anordinance dissolving the special allocation fund for theredevelopment project.
(L. 1982 H.B. 1411 & 1587 § 9, A.L. 1986 S.B. 664 merged with H.B. 989 & 1390, A.L. 1991 H.B. 502)
