It is the intent of the general assembly under authority of Section 10(c) of Article X of the Constitution of Missouri that a political subdivision, including a school district, may increase its tax rate ceiling by a vote of its governing body in any year in which the assessed valuation of the political subdivision is reduced due to changes in value under this subdivision, provided such increase in tax rates does not exceed a rate limit specified in statute or the constitution or levels previously approved by voters.
Mo. Rev. Stat. § 137.072
School districts and political subdivisions may increase tax ceiling by..
Known as the Private Car Ad Valorem Tax Law
The act spans §§ 137–137 (174 sections).
Effective: 28 Aug 1986; (L. 1986 S.B. 751 § 1 subsec. 2)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.