LegalFix
Sign In

Section 67.506 Computation of county sales tax levy.

MO Rev Stat § 67.506 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Effective 28 Aug 2004

67.506. Computation of county sales tax levy. — The tax rate for counties levying a sales tax under section 67.505 shall be computed by:

(1) Dividing the amount of the sales tax revenue required for reduction under subsection 3 of section 67.505 and section 163.087 by the total assessed valuation of the county and multiplying by one hundred to determine the amount of property tax reduction; and

(2) Subtracting the property tax rate reduction in subdivision (1) of this section from the tax rate ceiling for each class of property or subclass of real property.

­­--------

(L. 2004 S.B. 960)

Previous Section
Section 67.505 Election procedure — sales tax imposed, property taxes to be reduced — rate of tax — no zoological taxes permitted.
Next Section
Section 67.525 Deposit — distribution to county, when — refunds authorized — tax abolished, effect.