Property tax reform unanimous

Intro: With a unanimous committee vote, a bill reforming property tax structure in Missouri could see the Senate floor by the end of February.

Beth Ford has more from Jefferson City.

RunTime:0:34
OutCue: SOC

As it stands, when property reassessments go up, tax rates stay the same. This results in hidden tax increases for Missourians.

Last year, St. Louis County received more than a 12-million-dollar windfall from these increases, but Senate President Pro Tem Mike Gibbons says the problem is statewide.

Actuality: GIBTAX3.WAV

Run Time: 00:08

Description: "All across the state...they're going to see a dramatic improvement because we won't be allowing for tax increases caused by reassessment."

Under the new plan, tax rate rollbacks would be required to balance reassessment values.

From the state capitol, I'm Beth Ford, KMOX News.

Intro: A new bill tightening loopholes and closing "back door" tax increases could be on the Senate floor by the end of the month.

Beth Ford has more from Jefferson City.

RunTime:0:31
OutCue: SOC

A unanimous committee vote pushed the property tax reform bill straight through committee hearings.

Sponsored by Senate President Pro Tem Mike Gibbons, the bill would require tax rate rollbacks to balance property reassessments and combat hidden tax increases.

Actuality: GIBTAX2.WAV

Run Time: 00:07

Description: "It's not just an issue affecting St. Louis County residents anymore and I think people understand the basic fairness that if the values go up the rates should come down."

The bill would also stop applying tax rates from previous years onto newly-reassessed properties.

From the state capitol, I'm Beth Ford, KMOX News.

Intro: With a unanimous committee vote, a bill reforming property tax structure in Missouri could see the Senate floor by the end of February.

Beth Ford has more from Jefferson City.

RunTime:0:34
OutCue: SOC

As it stands, when property reassessments go up, tax rates stay the same. This results in hidden tax increases for Missourians.

Last year, St. Louis County received more than a 12-million-dollar windfall from these increases, but Senate President Pro Tem Mike Gibbons says the problem is statewide.

Actuality: GIBTAX3.WAV

Run Time: 00:08

Description: "All across the state...they're going to see a dramatic improvement because we won't be allowing for tax increases caused by reassessment."

Under the new plan, tax rate rollbacks would be required to balance reassessment values.

From the state capitol, I'm Beth Ford, KMOX News.