HB 1598 -- Tax Increment Financing

Sponsor:  Darrough

Currently, taxes paid on property in a tax increment financing
(TIF) redevelopment project are based on the current equalized
assessed value of the property.  This method of taxation
continues until the municipality adopts an ordinance dissolving
the special allocation fund for the redevelopment project.

This bill bases the taxes on the value of the property when it
was initially assessed.  Any tax increase after the initial
equalized assessed value cannot be used in a redevelopment
project or in any future TIF project.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:43 am