State law requires communities to adjust their tax rate when assessed valuation changes. When assessed valuations go up, communities are required to roll the tax rate back. When assessed valuations go down, communities are allowed to roll the tax rate up in order to generate the same level of revenue from the prior year.
Senate Bill 711
Due to the passage of Senate Bill 711 (SB 711) by the Missouri General Assembly in 2008, the County Collector is required to provide this notice based on a preliminary assessment book. The intent is to notify you of the potential tax liability due to a change in assessment.