Mo. Rev. Stat. § 137.1018 – Statewide average rate of property taxes levied, ascertained by the commission — report submitted — taxes collected, how determined | Midpage
§ 137.1018
Mo. Rev. Stat. § 137.1018
Statewide average rate of property taxes levied, ascertained by the commission — report submitted — taxes collected, how determined
Effective Aug 28, 1999(L. 1999 S.B. 219)
Viewing an earlier version · effective Aug 28, 1999View current
1. The commission shall ascertain the statewide average rate of property taxes levied the preceding year, based upon the total assessed valuation of the railroad and street railway companies and the total property taxes levied upon the railroad and street railway companies. It shall determine total property taxes levied from reports prescribed by the commission from the railroad and street railway companies. Total taxes levied shall not include revenues from the surtax on subclass three real property.
2. The commission shall report its determination of average property tax rate for the preceding year, together with the taxable distributable assessed valuation of each freight line company for the current year to the director no later than October first of each year.
3. Taxes on property of such freight line companies shall be collected at the state level by the director on behalf of the counties and other local public taxing entities and shall be distributed in accordance with sections 137.1021 and 137.1024. The director shall tax such property based upon the distributable assessed valuation attributable to Missouri of each freight line company, using the average tax rate for the preceding year of the railroad and street railway companies certified by the commission. Such tax shall be due and payable on or before December thirty-first of the year levied and, if it becomes delinquent, shall be subject to a penalty equal to that specified in section 140.100, RSMo.