COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0096-01
Bill No.: SJR 3
Subject: Taxation and Revenue - Property; Veterans; Counties
Type: Original
Date: January 14, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| General Revenue | $0 | ($34,850) | $0 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | ($34,850) | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Blind Pension | $0 | $0 | (Unknown) |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | (Unknown) |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 5 pages.
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Local Government | $0 | $0 | (Unknown) |
ASSUMPTION
Officials from the Department of Public Safety, Missouri Veterans' Commission and the Department of Revenue assume this proposal would have no impact on their organizations. Officials from the Department of Revenue noted that this proposal could affect total state revenue by exempting property that is currently being taxed.
Officials from the Office of the Secretary of State (SOS) assume statewide newspaper publication of constitutional amendments cost approximately $1,161 per column inch, based on an estimate provided by the Missouri Press Service. SOS assumes this amount should be tripled, for multiple printings as required by the state constitution and state statutes, for a total of $3,485 per column inch. Finally, SOS estimates this amendment to be approximately10 inches including a title header and certification paragraph. [$3,485 x 10 = $34,850]
ASSUMPTION (continued)
Officials from the State Tax Commission assume this proposal would reduce tax revenues for political subdivisions, but they are unable to estimate the impact of this proposal because they do not have any information regarding the number of veterans' organizations or the amounts of taxable property they own.
Officials from the Cole County Assessor's Office assume this proposal would have no impact on their office or on political subdivisions in Cole County since property owned by veterans' organizations is not currently being assessed or taxed.
Officials from the Department of Public Safety, Office of the Director did not respond to this proposal.
Oversight assumes the proposal would be submitted to the voters in November 2004. Oversight also assumes there would be an unknown reduction in political subdivision revenues as a result of this proposal, and an impact to the state Blind Pension Fund of approximately one-half of one percent of the impact to political subdivisions. Any impact to tax revenues would begin in FY 2006 since 2004 taxes collected in FY 2005 would already be determined before the November 2004 election.
| FISCAL IMPACT - State Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| GENERAL REVENUE FUND | |||
| Cost - Secretary of State | |||
| Publication cost | $0 | ($34,850) | $0 |
| ESTIMATED NET EFFECT ON | |||
| GENERAL REVENUE FUND | $0 | ($34,850) | $0 |
| BLIND PENSION FUND | |||
| Revenue reduction | |||
| Property taxes | $0 | $0 | (Unknown) |
| ESTIMATED NET EFFECT ON | |||
| BLIND PENSION FUND | $0 | $0 | (Unknown) |
| FISCAL IMPACT - Local Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| POLITICAL SUBDIVISIONS | |||
| Revenue reduction | |||
| Property taxes | $0 | $0 | (Unknown) |
| ESTIMATED NET EFFECT ON | |||
| POLITICAL SUBDIVISIONS | $0 | $0 | (Unknown) |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal would propose an amendment to the state constitution to exempt property owned by veterans' organizations from property taxation. The amendment would be submitted to the voters in the November 2004 general election, or at a special election to be called by the governor.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Public Safety
Missouri Veterans Commission
Department of Revenue
State Tax Commission
Cole County Assessor's Office
Secretary of State
NOT RESPONDING
Department of Public Safety
Office of the Director
Mickey Wilson, CPA
Director
January 14, 2003