- Introduced -

SB 648 - This act allows any county or the City of St. Louis to opt out of the use of an inflation growth factor to increase property levy rates. The entity may opt out by means of:

(1) An act of the entity's governing body;

(2) A referendum submitted to the voters upon act of the entity's governing body; or

(3) A referendum submitted to the voters upon initiative petition.

Passage of the referendum would prohibit the entity's governing body from adjusting the rate or rates of levy to increase the amount of property tax revenue to allow for inflationary growth that may occur between periods of assessment.

JEFF CRAVER