Honest property tax relief, not just lowering the rate – but keeping assessments in check as well – is great news for all homeowners.  We have to agree, the passage and signing of this law is probably the most significant achievement of the ’08 legislative session.  The bill was sponsored by Republican Attorney General candidate Michael Gibbons.

From OzarksFirst:

The legislation will make sure Missourians are well informed of any tax or assessment increase.

Law makers hope early notification and more information will give homeowners, small business owners and farmers more time to appeal their own assessment.

The legislation hopes to close a loophole in the Hancock Amendment, which provides protections from excessive increases through rollbacks in local property tax levies.

Sen. Michael Gibbons (above) sponsored the bill. “The thing I really like about the bill – it does apply to everybody. The people who benefit are the ones who will have been taxed through the back door of reassessment. So, it just provides a better playing field for everybody.”

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