COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
LR No.: 1060-01
Bill No.: SB 295
Subject: Taxation and Revenue: Property Tax Sale
Type: Original
Date: January 31, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 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 | $0 |
ASSUMPTION
Officials of the State Tax Commission assume there would be no state or local fiscal impact.
Jefferson County officials assume no fiscal impact.
Officials not responding are as follows: The County Collectors of Callaway, Boone, Franklin, Johnson, Greene, Marion, Platte, Clay, Cape Girardeau, St. Louis, and Jackson Counties and the City of St. Louis.
| FISCAL IMPACT - State Government | FY 2004 | FY 2005 | FY 2006 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2004 | FY 2005 | FY 2006 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This act modifies the provisions of the delinquent tax collection laws concerning the sale of lands pursuant to such collections.
The act extends the collection laws to include mineral rights and royalty interests with the scope of items subject to sale to discharge a tax lien.
The act removes the provisions that allow partial sales of land to satisfy taxes.
The act reduces the time that the Treasurer must hold the proceeds from the sale on behalf of absent owners from seven to three years. Where there is no trustee in a county or if there is a trustee that has not taken the property after a third offering of sale where no sale occurred, the collector may then sell property at any time and for any amount.
The act removes the requirement that the collector notify the person entitled to any excess funds from the sale.
The act reduces the redemption time for receiving land purchased at a sale from two years to one.
The act extends the collector's fees to include a title search fees, and allows the collector to charge for the recording fee. When a collector charges for the recording fee he or she is responsible for recording the deed.
The act restricts non-residents or delinquent taxpayers from being assigned certificates of purchase.
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
Missouri State Tax Commission
Jefferson County Commission
NOT RESPONDING
Boone County Collector
Callaway County Collector
Franklin County Collector
Johnson County Collector
Greene County Collector
Marion County Collector
Platte County Collector
Clay County Collector
Cape Girardeau County Collector
St. Louis County Collector
City of St. Louis Collector
Mickey Wilson, CPA
Director
January 31, 2003