140.980. Citation of law — definitions.
208 words·~1 min read·
/mo/chapter-140/140-980A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
140.980. Citation of law — definitions. — 1. Sections 140.980 to 140.1015 shall be known and may be cited as the "Chapter 140 Land Bank Act".
2. As used in sections 140.980 to 140.1015 , the following terms mean:
(1)"Land bank agency" , an agency established by a county or municipality under the authority of section 140.981 ;
(2)"Land taxes" , taxes on real property or real estate, including the taxes both on the land and the improvements thereon;
(3)"Municipality" , any incorporated city, town, or village in this state;
(4)"Political subdivision" , any county, city, town, village, school district, library district, or any other public subdivision or public corporation that has the power to tax;
(5)"Reserve period taxes" , land taxes assessed against any parcel of real estate sold or otherwise disposed of by a land bank agency for the first three tax years following such sale or disposition;
(6)"Tax bill" , real estate taxes and the lien thereof, whether general or special, levied and assessed by any taxing authority;
(7)"Taxing authority" , any governmental, managing, administering, or other lawful authority, now or hereafter empowered by law to issue tax bills.
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(L. 2019 H.B. 821, A.L. 2024 H.B. 2062)