Missouri Timeshare Bill to be Heard on March 22
Issue BriefHB 1818
, intended to address recurring property tax issues (particularly in Taney County), has been formally introduced in the Missouri legislature and is scheduled to be heard tomorrow, March 22, in the House General Laws Committee. The bill’s sponsor is Representative Rodney Schad.
HB 1818 clarifies that timeshare properties are to be considered "residential" rather than "commercial" for purposes of property tax classification based on a ratio of the nights the timeshare units are actually rented compared to the overall nights available for use in that timeshare development. This will help protect timeshare owners from aggressive efforts from county assessors who are trying to apply a commercial rate that is substantially higher. The bill also limits an assessor's discretion in determining rental use.
Position/Call to ActionARDA and ARDA-ROC supports this positive legislation that preserves the current classification of timeshare as residential property for purposes of property tax valuation therefore saving owners money by paying the residential tax rate which is significantly lower than the commercial tax rate. ARDA and ARDA-ROC representatives will be present to testify at the hearing and will continue to monitor the bill as it moves through the Missouri State Legislature.
We expect the bill will move quickly throughout its referred committees in the next few weeks and will provide additional updates as information becomes available. There is no Senate companion bill.