Missouri Bill Clarifying Tax Assessment Signed by Governor

2012-07-11

Issue Brief

House Bill 1818 was approved by the Governor on July 5 after passing the full Missouri House of Representatives on May 18, the last day of this year’s legislative session. This bill will clarify the valuation of timeshares for real property tax purposes and was filed in response to confusion regarding assessments in (Branson) going back to 2007.

 

Impact

House Bill 1818 clarifies the classification timeshares for property tax purposes in Missouri. ARDA and ARDA ROC pursued this legislation in response to recurring issues with the assessment of timeshares in Taney County (Branson) in which the local property assessor attempted assign a commercial classification. Beginning in 2007, timeshare owners and associations were forced to repeatedly turn to the appeal process to secure appropriate property tax assessments. 

Position/Call to Action

Missouri is one of a small number of states which allows dual classification of property. Under House Bill 1818, it is clear that timeshare properties are primarily residential and can only the percentage of use for actual transient rental can be assessed as commercial. This should reduce inappropriate assessments and the need to undergo appeals, saving dollars for associations and owners. 

Issue Updates

The Missouri General Assembly passed HB 1818 on May 18 and was approved by the Governor on July 5, 2012.