Real property improvements exemption from assessment and ad valoremtaxes--procedure--maximum period granted--abatement or exemptionceases, when.
135.215. 1. Improvements made to "real property" as such term isdefined in section 137.010, RSMo, which are made in an enterprise zonesubsequent to the date such zone or expansion thereto was designated, mayupon approval of an authorizing resolution by the governing authorityhaving jurisdiction of the area in which the improvements are made, beexempt, in whole or in part, from assessment and payment of ad valoremtaxes of one or more affected political subdivisions, provided that, exceptas to the exemption allowed under subsection 3 of this section, at leastfifty new jobs that provide an average of at least thirty-five hours ofemployment per week per job are created and maintained at the new orexpanded facility. Such authorizing resolution shall specify the percentof the exemption to be granted, the duration of the exemption to begranted, and the political subdivisions to which such exemption is to applyand any other terms, conditions or stipulations otherwise required. A copyof the resolution shall be provided the director within thirty calendardays following adoption of the resolution by the governing authority.
2. No exemption shall be granted until the governing authority holdsa public hearing for the purpose of obtaining the opinions and suggestionsof residents of political subdivisions to be affected by the exemption fromproperty taxes. The governing authority shall send, by certified mail, anotice of such hearing to each political subdivision in the area to beaffected and shall publish notice of such hearing in a newspaper of generalcirculation in the area to be affected by the exemption at least twentydays prior to the hearing but not more than thirty days prior to thehearing. Such notice shall state the time, location, date and purpose ofthe hearing.
3. Notwithstanding subsection 1 of this section, at least one-half ofthe ad valorem taxes otherwise imposed on subsequent improvements to realproperty located in an enterprise zone shall become and remain exempt fromassessment and payment of ad valorem taxes of any political subdivision ofthis state or municipality thereof for a period of not less than ten yearsfollowing the date such improvements were assessed, provided the improvedproperties are used for assembling, fabricating, processing, manufacturing,mining, warehousing or distributing properties.
4. No exemption shall be granted for a period more than twenty-fiveyears following the date on which the original enterprise zone wasdesignated by the department except for any enterprise zone within any homerule city with more than one hundred fifty-one thousand five hundred butless than one hundred fifty-one thousand six hundred inhabitants providedin any instance the exemption shall not be granted for a period longer thantwenty-five years from the date on which the exemption was granted.
5. The provisions of subsection 1 of this section shall not apply toimprovements made to real property which have been started prior to August28, 1991.
6. The mandatory abatement referred to in this section shall notrelieve the assessor or other responsible official from ascertaining theamount of the equalized assessed value of all taxable property annually asrequired by section 99.855, RSMo, and shall not have the effect of reducingthe payments in lieu of taxes referred to in subdivision (2) of section99.845, RSMo, unless such reduction is set forth in the plan approved bythe governing body of the municipality pursuant to subdivision (1) ofsection 99.820, RSMo.
7. Effective August 28, 2004, any abatement or exemption provided forin this section on an individual parcel of real property shall cease aftera period of thirty days of business closure, work stoppage, major reductionin force, or a significant change in the type of business conducted at thatlocation. For the purposes of this subsection, "work stoppage" shall notinclude strike or lockout or time necessary to retool a plant, and "majorreduction in force" is defined as a seventy-five percent or greaterreduction. Any owner or new owner may reapply, but cannot receive theabatement or exemption for any period of time beyond the original life ofthe enterprise zone.
Real property improvements exemption from assessment and ad valoremtaxes--procedure--maximum period granted--abatement or exemptionceases, when.
135.215. 1. Improvements made to "real property" as such term isdefined in section 137.010, RSMo, which are made in an enterprise zonesubsequent to the date such zone or expansion thereto was designated, mayupon approval of an authorizing resolution by the governing authorityhaving jurisdiction of the area in which the improvements are made, beexempt, in whole or in part, from assessment and payment of ad valoremtaxes of one or more affected political subdivisions, provided that, exceptas to the exemption allowed under subsection 3 of this section, at leastfifty new jobs that provide an average of at least thirty-five hours ofemployment per week per job are created and maintained at the new orexpanded facility. Such authorizing resolution shall specify the percentof the exemption to be granted, the duration of the exemption to begranted, and the political subdivisions to which such exemption is to applyand any other terms, conditions or stipulations otherwise required. A copyof the resolution shall be provided the director within thirty calendardays following adoption of the resolution by the governing authority.
2. No exemption shall be granted until the governing authority holdsa public hearing for the purpose of obtaining the opinions and suggestionsof residents of political subdivisions to be affected by the exemption fromproperty taxes. The governing authority shall send, by certified mail, anotice of such hearing to each political subdivision in the area to beaffected and shall publish notice of such hearing in a newspaper of generalcirculation in the area to be affected by the exemption at least twentydays prior to the hearing but not more than thirty days prior to thehearing. Such notice shall state the time, location, date and purpose ofthe hearing.
3. Notwithstanding subsection 1 of this section, at least one-half ofthe ad valorem taxes otherwise imposed on subsequent improvements to realproperty located in an enterprise zone shall become and remain exempt fromassessment and payment of ad valorem taxes of any political subdivision ofthis state or municipality thereof for a period of not less than ten yearsfollowing the date such improvements were assessed, provided the improvedproperties are used for assembling, fabricating, processing, manufacturing,mining, warehousing or distributing properties.
4. No exemption shall be granted for a period more than twenty-fiveyears following the date on which the original enterprise zone wasdesignated by the department except for any enterprise zone within any homerule city with more than one hundred fifty-one thousand five hundred butless than one hundred fifty-one thousand six hundred inhabitants providedin any instance the exemption shall not be granted for a period longer thantwenty-five years from the date on which the exemption was granted.
5. The provisions of subsection 1 of this section shall not apply toimprovements made to real property which have been started prior to August28, 1991.
6. The mandatory abatement referred to in this section shall notrelieve the assessor or other responsible official from ascertaining theamount of the equalized assessed value of all taxable property annually asrequired by section 99.855, RSMo, and shall not have the effect of reducingthe payments in lieu of taxes referred to in subdivision (2) of section99.845, RSMo, unless such reduction is set forth in the plan approved bythe governing body of the municipality pursuant to subdivision (1) ofsection 99.820, RSMo.
7. Effective August 28, 2004, any abatement or exemption provided forin this section on an individual parcel of real property shall cease aftera period of thirty days of business closure, work stoppage, major reductionin force, or a significant change in the type of business conducted at thatlocation. For the purposes of this subsection, "work stoppage" shall notinclude strike or lockout or time necessary to retool a plant, and "majorreduction in force" is defined as a seventy-five percent or greaterreduction. Any owner or new owner may reapply, but cannot receive theabatement or exemption for any period of time beyond the original life ofthe enterprise zone.
Real property improvements exemption from assessment and ad valoremtaxes--procedure--maximum period granted--abatement or exemptionceases, when.
135.215. 1. Improvements made to "real property" as such term isdefined in section 137.010, RSMo, which are made in an enterprise zonesubsequent to the date such zone or expansion thereto was designated, mayupon approval of an authorizing resolution by the governing authorityhaving jurisdiction of the area in which the improvements are made, beexempt, in whole or in part, from assessment and payment of ad valoremtaxes of one or more affected political subdivisions, provided that, exceptas to the exemption allowed under subsection 3 of this section, at leastfifty new jobs that provide an average of at least thirty-five hours ofemployment per week per job are created and maintained at the new orexpanded facility. Such authorizing resolution shall specify the percentof the exemption to be granted, the duration of the exemption to begranted, and the political subdivisions to which such exemption is to applyand any other terms, conditions or stipulations otherwise required. A copyof the resolution shall be provided the director within thirty calendardays following adoption of the resolution by the governing authority.
2. No exemption shall be granted until the governing authority holdsa public hearing for the purpose of obtaining the opinions and suggestionsof residents of political subdivisions to be affected by the exemption fromproperty taxes. The governing authority shall send, by certified mail, anotice of such hearing to each political subdivision in the area to beaffected and shall publish notice of such hearing in a newspaper of generalcirculation in the area to be affected by the exemption at least twentydays prior to the hearing but not more than thirty days prior to thehearing. Such notice shall state the time, location, date and purpose ofthe hearing.
3. Notwithstanding subsection 1 of this section, at least one-half ofthe ad valorem taxes otherwise imposed on subsequent improvements to realproperty located in an enterprise zone shall become and remain exempt fromassessment and payment of ad valorem taxes of any political subdivision ofthis state or municipality thereof for a period of not less than ten yearsfollowing the date such improvements were assessed, provided the improvedproperties are used for assembling, fabricating, processing, manufacturing,mining, warehousing or distributing properties.
4. No exemption shall be granted for a period more than twenty-fiveyears following the date on which the original enterprise zone wasdesignated by the department except for any enterprise zone within any homerule city with more than one hundred fifty-one thousand five hundred butless than one hundred fifty-one thousand six hundred inhabitants providedin any instance the exemption shall not be granted for a period longer thantwenty-five years from the date on which the exemption was granted.
5. The provisions of subsection 1 of this section shall not apply toimprovements made to real property which have been started prior to August28, 1991.
6. The mandatory abatement referred to in this section shall notrelieve the assessor or other responsible official from ascertaining theamount of the equalized assessed value of all taxable property annually asrequired by section 99.855, RSMo, and shall not have the effect of reducingthe payments in lieu of taxes referred to in subdivision (2) of section99.845, RSMo, unless such reduction is set forth in the plan approved bythe governing body of the municipality pursuant to subdivision (1) ofsection 99.820, RSMo.
7. Effective August 28, 2004, any abatement or exemption provided forin this section on an individual parcel of real property shall cease aftera period of thirty days of business closure, work stoppage, major reductionin force, or a significant change in the type of business conducted at thatlocation. For the purposes of this subsection, "work stoppage" shall notinclude strike or lockout or time necessary to retool a plant, and "majorreduction in force" is defined as a seventy-five percent or greaterreduction. Any owner or new owner may reapply, but cannot receive theabatement or exemption for any period of time beyond the original life ofthe enterprise zone.
