Blunt signing property tax relief bill

Tuesday, July 1, 2008 | 11:33 a.m. CDT; updated 2:42 p.m. CDT, Tuesday, July 22, 2008

JEFFERSON CITY — Gov. Matt Blunt is signing legislation intended to provide relief from sharp property tax increases.

The legislation closes what some critics call a loophole in Missouri’s property tax system.

The state constitution already says local governments are to reduce their maximum allowed property tax rates when assessed property values rise by more than inflation.

But some governments have gotten around the rollback requirement by voluntarily setting their tax rates below their maximum-allowed level.

The legislation will require tax rate reductions when assessed property values rise significantly — even if tax rates already are below their maximum.

The bill also increases the income tax breaks available to low-income elderly and disabled homeowners. It also caps state fees charged to bulk buyers of vehicle and driver’s license records.

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