| 1 | 1 | | |
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| 2 | 2 | | EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted |
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| 3 | 3 | | and is intended to be omitted in the law. |
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| 4 | 4 | | FIRST REGULAR SESSION |
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| 5 | 5 | | SENATE BILL NO. 171 |
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| 6 | 6 | | 103RD GENERAL ASSEMBLY |
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| 7 | 7 | | INTRODUCED BY SENATOR NICOLA. |
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| 8 | 8 | | 1374S.01I KRISTINA MARTIN, Secretary |
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| 9 | 9 | | AN ACT |
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| 10 | 10 | | To repeal section 137.115, RSMo, and to enact in lieu thereof one new section relating to personal |
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| 11 | 11 | | property assessments. |
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| 12 | 12 | | |
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| 13 | 13 | | Be it enacted by the General Assembly of the State of Missouri, as follows: |
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| 14 | 14 | | Section A. Section 137.115, RSMo, is repealed and one new 1 |
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| 15 | 15 | | section enacted in lieu thereof, to be known as section 137.115, 2 |
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| 16 | 16 | | to read as follows:3 |
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| 17 | 17 | | 137.115. 1. All other laws to the contrary 1 |
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| 18 | 18 | | notwithstanding, the assessor or the assessor's deputies in 2 |
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| 19 | 19 | | all counties of this state including the City of St. Louis 3 |
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| 20 | 20 | | shall annually make a list of all real and tangible personal 4 |
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| 21 | 21 | | property taxable in the assessor's city, county, to wn or 5 |
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| 22 | 22 | | district. Except as otherwise provided in subsection 3 of 6 |
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| 23 | 23 | | this section and section 137.078, the assessor shall 7 |
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| 24 | 24 | | annually assess all personal property at thirty -three and 8 |
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| 25 | 25 | | one-third percent of its true value in money as of January 9 |
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| 26 | 26 | | first of each calendar year. Beginning January 1, 2026, all 10 |
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| 27 | 27 | | personal property shall be annually assessed at a percent of 11 |
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| 28 | 28 | | its true value in money as of January first of each calendar 12 |
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| 29 | 29 | | year as follows: 13 |
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| 30 | 30 | | (1) A political subdivision shall annually reduce the 14 |
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| 31 | 31 | | percentage of true value in money at which personal property 15 |
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| 32 | 32 | | is assessed pursuant to this subsection by three and one - 16 |
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| 33 | 33 | | third percent. For all tax years beginning on or after 17 |
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| 34 | 34 | | January 1, 2036, all personal property shall be annually 18 SB 171 2 |
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| 35 | 35 | | assessed at three-tenths of a percent of its true value in 19 |
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| 36 | 36 | | money as of January first of each calendar year; 20 |
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| 37 | 37 | | (2) The provisions of subdivision (1) of this 21 |
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| 38 | 38 | | subsection shall not be construed to relieve a political 22 |
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| 39 | 39 | | subdivision from adjustments to property tax levies as 23 |
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| 40 | 40 | | required by section 137.073; 24 |
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| 41 | 41 | | (3) Notwithstanding the provisions of subdivisions (1) 25 |
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| 42 | 42 | | and (2) of this section to the contrary, for the purposes of 26 |
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| 43 | 43 | | the tax levied pursuant to Article III, Section 38(b) of the 27 |
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| 44 | 44 | | Missouri Constitution, all personal property shall be 28 |
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| 45 | 45 | | assessed at thirty-three and one-third percent of its true 29 |
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| 46 | 46 | | value in money as of January first of each calendar year. 30 |
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| 47 | 47 | | 2. The assessor shall annually assess all real 31 |
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| 48 | 48 | | property, including any new construction and improvements to 32 |
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| 49 | 49 | | real property, and possessory interests in real property at 33 |
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| 50 | 50 | | the percent of its true value in money set in subsection [5] 34 |
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| 51 | 51 | | 6 of this section. The true value in money of any 35 |
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| 52 | 52 | | possessory interest in real property in subclass (3), where 36 |
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| 53 | 53 | | such real property is on or lies withi n the ultimate airport 37 |
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| 54 | 54 | | boundary as shown by a federal airport layout plan, as 38 |
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| 55 | 55 | | defined by 14 CFR 151.5, of a commercial airport having a 39 |
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| 56 | 56 | | FAR Part 139 certification and owned by a political 40 |
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| 57 | 57 | | subdivision, shall be the otherwise applicable true value in 41 |
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| 58 | 58 | | money of any such possessory interest in real property, less 42 |
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| 59 | 59 | | the total dollar amount of costs paid by a party, other than 43 |
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| 60 | 60 | | the political subdivision, towards any new construction or 44 |
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| 61 | 61 | | improvements on such real property completed after January 45 |
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| 62 | 62 | | 1, 2008, and which are included in the above -mentioned 46 |
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| 63 | 63 | | possessory interest, regardless of the year in which such 47 |
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| 64 | 64 | | costs were incurred or whether such costs were considered in 48 |
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| 65 | 65 | | any prior year. The assessor shall annually assess all real 49 |
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| 66 | 66 | | property in the following manne r: new assessed values shall 50 SB 171 3 |
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| 67 | 67 | | be determined as of January first of each odd -numbered year 51 |
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| 68 | 68 | | and shall be entered in the assessor's books; those same 52 |
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| 69 | 69 | | assessed values shall apply in the following even -numbered 53 |
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| 70 | 70 | | year, except for new construction and property improvements 54 |
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| 71 | 71 | | which shall be valued as though they had been completed as 55 |
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| 72 | 72 | | of January first of the preceding odd -numbered year. The 56 |
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| 73 | 73 | | assessor may call at the office, place of doing business, or 57 |
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| 74 | 74 | | residence of each person required by this chapter to list 58 |
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| 75 | 75 | | property, and require the person to make a correct statement 59 |
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| 76 | 76 | | of all taxable tangible personal property owned by the 60 |
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| 77 | 77 | | person or under his or her care, charge or management, 61 |
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| 78 | 78 | | taxable in the county. On or before January first of each 62 |
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| 79 | 79 | | even-numbered year, the assessor shall prepare and submit a 63 |
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| 80 | 80 | | two-year assessment maintenance plan to the county governing 64 |
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| 81 | 81 | | body and the state tax commission for their respective 65 |
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| 82 | 82 | | approval or modification. The county governing body shall 66 |
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| 83 | 83 | | approve and forward such plan or its alte rnative to the plan 67 |
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| 84 | 84 | | to the state tax commission by February first. If the 68 |
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| 85 | 85 | | county governing body fails to forward the plan or its 69 |
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| 86 | 86 | | alternative to the plan to the state tax commission by 70 |
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| 87 | 87 | | February first, the assessor's plan shall be considered 71 |
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| 88 | 88 | | approved by the county governing body. If the state tax 72 |
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| 89 | 89 | | commission fails to approve a plan and if the state tax 73 |
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| 90 | 90 | | commission and the assessor and the governing body of the 74 |
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| 91 | 91 | | county involved are unable to resolve the differences, in 75 |
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| 92 | 92 | | order to receive state cost -share funds outlined in section 76 |
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| 93 | 93 | | 137.750, the county or the assessor shall petition the 77 |
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| 94 | 94 | | administrative hearing commission, by May first, to decide 78 |
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| 95 | 95 | | all matters in dispute regarding the assessment maintenance 79 |
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| 96 | 96 | | plan. Upon agreement of the parties, the matter ma y be 80 |
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| 97 | 97 | | stayed while the parties proceed with mediation or 81 |
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| 98 | 98 | | arbitration upon terms agreed to by the parties. The final 82 SB 171 4 |
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| 99 | 99 | | decision of the administrative hearing commission shall be 83 |
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| 100 | 100 | | subject to judicial review in the circuit court of the 84 |
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| 101 | 101 | | county involved. In the event a valuation of subclass (1) 85 |
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| 102 | 102 | | real property within any county with a charter form of 86 |
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| 103 | 103 | | government, or within a city not within a county, is made by 87 |
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| 104 | 104 | | a computer, computer -assisted method or a computer program, 88 |
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| 105 | 105 | | the burden of proof, supported by clea r, convincing and 89 |
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| 106 | 106 | | cogent evidence to sustain such valuation, shall be on the 90 |
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| 107 | 107 | | assessor at any hearing or appeal. In any such county, 91 |
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| 108 | 108 | | unless the assessor proves otherwise, there shall be a 92 |
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| 109 | 109 | | presumption that the assessment was made by a computer, 93 |
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| 110 | 110 | | computer-assisted method or a computer program. Such 94 |
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| 111 | 111 | | evidence shall include, but shall not be limited to, the 95 |
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| 112 | 112 | | following: 96 |
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| 113 | 113 | | (1) The findings of the assessor based on an appraisal 97 |
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| 114 | 114 | | of the property by generally accepted appraisal techniques; 98 |
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| 115 | 115 | | and 99 |
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| 116 | 116 | | (2) The purchase prices from sales of at least three 100 |
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| 117 | 117 | | comparable properties and the address or location thereof. 101 |
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| 118 | 118 | | As used in this subdivision, the word "comparable" means 102 |
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| 119 | 119 | | that: 103 |
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| 120 | 120 | | (a) Such sale was closed at a date relevant to the 104 |
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| 121 | 121 | | property valuation; and 105 |
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| 122 | 122 | | (b) Such properties are not more than one mile from 106 |
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| 123 | 123 | | the site of the disputed property, except where no similar 107 |
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| 124 | 124 | | properties exist within one mile of the disputed property, 108 |
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| 125 | 125 | | the nearest comparable property shall be used. Such 109 |
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| 126 | 126 | | property shall be within five hundred square feet in size of 110 |
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| 127 | 127 | | the disputed property, and resemble the disputed property in 111 |
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| 128 | 128 | | age, floor plan, number of rooms, and other relevant 112 |
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| 129 | 129 | | characteristics. 113 SB 171 5 |
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| 130 | 130 | | [2.] 3. Assessors in each county of this state and the 114 |
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| 131 | 131 | | City of St. Louis may s end personal property assessment 115 |
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| 132 | 132 | | forms through the mail. 116 |
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| 133 | 133 | | [3.] 4. The following items of personal property shall 117 |
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| 134 | 134 | | each constitute separate subclasses of tangible personal 118 |
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| 135 | 135 | | property and shall be assessed and valued for the purposes 119 |
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| 136 | 136 | | of taxation at the following percentages of their true value 120 |
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| 137 | 137 | | in money: 121 |
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| 138 | 138 | | (1) Grain and other agricultural crops in an 122 |
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| 139 | 139 | | unmanufactured condition, one -half of one percent; 123 |
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| 140 | 140 | | (2) Livestock, twelve percent; 124 |
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| 141 | 141 | | (3) Farm machinery, twelve percent; 125 |
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| 142 | 142 | | (4) Motor vehicles which are eligible for registration 126 |
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| 143 | 143 | | as and are registered as historic motor vehicles pursuant to 127 |
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| 144 | 144 | | section 301.131 and aircraft which are at least twenty -five 128 |
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| 145 | 145 | | years old and which are used solely for noncommercial 129 |
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| 146 | 146 | | purposes and are operated less than two hundred hours per 130 |
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| 147 | 147 | | year or aircraft that are home built from a kit, five 131 |
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| 148 | 148 | | percent; 132 |
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| 149 | 149 | | (5) Poultry, twelve percent; and 133 |
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| 150 | 150 | | (6) Tools and equipment used for pollution control and 134 |
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| 151 | 151 | | tools and equipment used in retooling for the purpose of 135 |
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| 152 | 152 | | introducing new product lines or used for making 136 |
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| 153 | 153 | | improvements to existing products by any company which is 137 |
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| 154 | 154 | | located in a state enterprise zone and which is identified 138 |
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| 155 | 155 | | by any standard industrial classification number cited in 139 |
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| 156 | 156 | | subdivision (7) of section 135.200, tw enty-five percent. 140 |
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| 157 | 157 | | [4.] 5. The person listing the property shall enter a 141 |
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| 158 | 158 | | true and correct statement of the property, in a printed 142 |
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| 159 | 159 | | blank prepared for that purpose. The statement, after being 143 |
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| 160 | 160 | | filled out, shall be signed and either affirmed or sworn to 144 SB 171 6 |
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| 161 | 161 | | as provided in section 137.155. The list shall then be 145 |
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| 162 | 162 | | delivered to the assessor. 146 |
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| 163 | 163 | | [5.] 6. (1) All subclasses of real property, as such 147 |
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| 164 | 164 | | subclasses are established in Section 4(b) of Article X of 148 |
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| 165 | 165 | | the Missouri Constitution and defined in secti on 137.016, 149 |
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| 166 | 166 | | shall be assessed at the following percentages of true value: 150 |
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| 167 | 167 | | (a) For real property in subclass (1), nineteen 151 |
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| 168 | 168 | | percent; 152 |
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| 169 | 169 | | (b) For real property in subclass (2), twelve percent; 153 |
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| 170 | 170 | | and 154 |
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| 171 | 171 | | (c) For real property in subclass (3), thirty -two 155 |
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| 172 | 172 | | percent. 156 |
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| 173 | 173 | | (2) A taxpayer may apply to the county assessor, or, 157 |
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| 174 | 174 | | if not located within a county, then the assessor of such 158 |
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| 175 | 175 | | city, for the reclassification of such taxpayer's real 159 |
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| 176 | 176 | | property if the use or purpose of such real property is 160 |
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| 177 | 177 | | changed after such property is assessed under the provisions 161 |
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| 178 | 178 | | of this chapter. If the assessor determines that such 162 |
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| 179 | 179 | | property shall be reclassified, he or she shall determine 163 |
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| 180 | 180 | | the assessment under this subsection based on the percentage 164 |
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| 181 | 181 | | of the tax year that such property was classified in each 165 |
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| 182 | 182 | | subclassification. 166 |
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| 183 | 183 | | [6.] 7. Manufactured homes, as defined in section 167 |
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| 184 | 184 | | 700.010, which are actually used as dwelling units shall be 168 |
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| 185 | 185 | | assessed at the same percentage of true value as residential 169 |
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| 186 | 186 | | real property for the pu rpose of taxation. The percentage 170 |
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| 187 | 187 | | of assessment of true value for such manufactured homes 171 |
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| 188 | 188 | | shall be the same as for residential real property. If the 172 |
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| 189 | 189 | | county collector cannot identify or find the manufactured 173 |
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| 190 | 190 | | home when attempting to attach the manufact ured home for 174 |
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| 191 | 191 | | payment of taxes owed by the manufactured home owner, the 175 |
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| 192 | 192 | | county collector may request the county commission to have 176 SB 171 7 |
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| 193 | 193 | | the manufactured home removed from the tax books, and such 177 |
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| 194 | 194 | | request shall be granted within thirty days after the 178 |
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| 195 | 195 | | request is made; however, the removal from the tax books 179 |
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| 196 | 196 | | does not remove the tax lien on the manufactured home if it 180 |
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| 197 | 197 | | is later identified or found. For purposes of this section, 181 |
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| 198 | 198 | | a manufactured home located in a manufactured home rental 182 |
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| 199 | 199 | | park, rental community or on real estate not owned by the 183 |
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| 200 | 200 | | manufactured home owner shall be considered personal 184 |
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| 201 | 201 | | property. For purposes of this section, a manufactured home 185 |
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| 202 | 202 | | located on real estate owned by the manufactured home owner 186 |
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| 203 | 203 | | may be considered real property. 187 |
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| 204 | 204 | | [7.] 8. Each manufactured home assessed shall be 188 |
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| 205 | 205 | | considered a parcel for the purpose of reimbursement 189 |
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| 206 | 206 | | pursuant to section 137.750, unless the manufactured home is 190 |
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| 207 | 207 | | deemed to be real estate as defined in subsection 7 of 191 |
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| 208 | 208 | | section 442.015 and assessed as a real ty improvement to the 192 |
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| 209 | 209 | | existing real estate parcel. 193 |
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| 210 | 210 | | [8.] 9. Any amount of tax due and owing based on the 194 |
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| 211 | 211 | | assessment of a manufactured home shall be included on the 195 |
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| 212 | 212 | | personal property tax statement of the manufactured home 196 |
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| 213 | 213 | | owner unless the manufactu red home is deemed to be real 197 |
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| 214 | 214 | | estate as defined in subsection 7 of section 442.015, in 198 |
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| 215 | 215 | | which case the amount of tax due and owing on the assessment 199 |
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| 216 | 216 | | of the manufactured home as a realty improvement to the 200 |
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| 217 | 217 | | existing real estate parcel shall be included on the real 201 |
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| 218 | 218 | | property tax statement of the real estate owner. 202 |
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| 219 | 219 | | [9.] 10. The assessor of each county and each city not 203 |
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| 220 | 220 | | within a county shall use the trade -in value published in 204 |
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| 221 | 221 | | the October issue of the National Automobile Dealers' 205 |
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| 222 | 222 | | Association Official Used Car Guide, or its successor 206 |
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| 223 | 223 | | publication, as the recommended guide of information for 207 |
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| 224 | 224 | | determining the true value of motor vehicles described in 208 SB 171 8 |
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| 225 | 225 | | such publication. The assessor shall not use a value that 209 |
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| 226 | 226 | | is greater than the average trade -in value in determining 210 |
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| 227 | 227 | | the true value of the motor vehicle without performing a 211 |
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| 228 | 228 | | physical inspection of the motor vehicle. For vehicles two 212 |
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| 229 | 229 | | years old or newer from a vehicle's model year, the assessor 213 |
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| 230 | 230 | | may use a value other than average without performing a 214 |
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| 231 | 231 | | physical inspection of the motor vehicle. In the absence of 215 |
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| 232 | 232 | | a listing for a particular motor vehicle in such 216 |
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| 233 | 233 | | publication, the assessor shall use such information or 217 |
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| 234 | 234 | | publications which in the assessor's judgment will fairly 218 |
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| 235 | 235 | | estimate the true value in mone y of the motor vehicle. 219 |
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| 236 | 236 | | [10.] 11. Before the assessor may increase the 220 |
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| 237 | 237 | | assessed valuation of any parcel of subclass (1) real 221 |
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| 238 | 238 | | property by more than fifteen percent since the last 222 |
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| 239 | 239 | | assessment, excluding increases due to new construction or 223 |
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| 240 | 240 | | improvements, the assessor shall conduct a physical 224 |
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| 241 | 241 | | inspection of such property. 225 |
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| 242 | 242 | | [11.] 12. If a physical inspection is required, 226 |
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| 243 | 243 | | pursuant to subsection [10] 11 of this section, the assessor 227 |
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| 244 | 244 | | shall notify the property owner of that fact in writing and 228 |
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| 245 | 245 | | shall provide the owner clear written notice of the owner's 229 |
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| 246 | 246 | | rights relating to the physical inspection. If a physical 230 |
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| 247 | 247 | | inspection is required, the property owner may request that 231 |
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| 248 | 248 | | an interior inspection be performed during the physical 232 |
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| 249 | 249 | | inspection. The owner shall have no less than thirty days 233 |
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| 250 | 250 | | to notify the assessor of a request for an interior physical 234 |
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| 251 | 251 | | inspection. 235 |
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| 252 | 252 | | [12.] 13. A physical inspection, as required by 236 |
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| 253 | 253 | | subsection [10] 11 of this section, shall include, but not 237 |
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| 254 | 254 | | be limited to, an on -site personal observation and review of 238 |
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| 255 | 255 | | all exterior portions of the land and any buildings and 239 |
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| 256 | 256 | | improvements to which the inspector has or may reasonably 240 SB 171 9 |
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| 257 | 257 | | and lawfully gain external access, and shall include an 241 |
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| 258 | 258 | | observation and review of the interior of any buil dings or 242 |
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| 259 | 259 | | improvements on the property upon the timely request of the 243 |
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| 260 | 260 | | owner pursuant to subsection 11 of this section. Mere 244 |
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| 261 | 261 | | observation of the property via a drive -by inspection or the 245 |
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| 262 | 262 | | like shall not be considered sufficient to constitute a 246 |
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| 263 | 263 | | physical inspection as required by this section. 247 |
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| 264 | 264 | | [13.] 14. A county or city collector may accept credit 248 |
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| 265 | 265 | | cards as proper form of payment of outstanding property tax 249 |
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| 266 | 266 | | or license due. No county or city collector may charge 250 |
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| 267 | 267 | | surcharge for payment by credit card which exceeds the fee 251 |
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| 268 | 268 | | or surcharge charged by the credit card bank, processor, or 252 |
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| 269 | 269 | | issuer for its service. A county or city collector may 253 |
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| 270 | 270 | | accept payment by electronic transfers of funds in payment 254 |
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| 271 | 271 | | of any tax or license and charge the person making such 255 |
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| 272 | 272 | | payment a fee equal to the fee charged the county by the 256 |
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| 273 | 273 | | bank, processor, or issuer of such electronic payment. 257 |
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| 274 | 274 | | [14.] 15. Any county or city not within a county in 258 |
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| 275 | 275 | | this state may, by an affirmative vote of the governing body 259 |
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| 276 | 276 | | of such county, opt out of the provisions of this section 260 |
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| 277 | 277 | | and sections 137.073, 138.060, and 138.100 as enacted by 261 |
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| 278 | 278 | | house bill no. 1150 of the ninety -first general assembly, 262 |
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| 279 | 279 | | second regular session and section 137.073 as modified by 263 |
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| 280 | 280 | | house committee substitute for senate sub stitute for senate 264 |
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| 281 | 281 | | committee substitute for senate bill no. 960, ninety -second 265 |
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| 282 | 282 | | general assembly, second regular session, for the next year 266 |
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| 283 | 283 | | of the general reassessment, prior to January first of any 267 |
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| 284 | 284 | | year. No county or city not within a county shall exe rcise 268 |
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| 285 | 285 | | this opt-out provision after implementing the provisions of 269 |
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| 286 | 286 | | this section and sections 137.073, 138.060, and 138.100 as 270 |
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| 287 | 287 | | enacted by house bill no. 1150 of the ninety -first general 271 |
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| 288 | 288 | | assembly, second regular session and section 137.073 as 272 SB 171 10 |
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| 289 | 289 | | modified by house committee substitute for senate substitute 273 |
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| 290 | 290 | | for senate committee substitute for senate bill no. 960, 274 |
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| 291 | 291 | | ninety-second general assembly, second regular session, in a 275 |
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| 292 | 292 | | year of general reassessment. For the purposes of applying 276 |
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| 293 | 293 | | the provisions of this s ubsection, a political subdivision 277 |
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| 294 | 294 | | contained within two or more counties where at least one of 278 |
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| 295 | 295 | | such counties has opted out and at least one of such 279 |
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| 296 | 296 | | counties has not opted out shall calculate a single tax rate 280 |
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| 297 | 297 | | as in effect prior to the enactment of hous e bill no. 1150 281 |
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| 298 | 298 | | of the ninety-first general assembly, second regular 282 |
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| 299 | 299 | | session. A governing body of a city not within a county or 283 |
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| 300 | 300 | | a county that has opted out under the provisions of this 284 |
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| 301 | 301 | | subsection may choose to implement the provisions of this 285 |
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| 302 | 302 | | section and sections 137.073, 138.060, and 138.100 as 286 |
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| 303 | 303 | | enacted by house bill no. 1150 of the ninety -first general 287 |
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| 304 | 304 | | assembly, second regular session, and section 137.073 as 288 |
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| 305 | 305 | | modified by house committee substitute for senate substitute 289 |
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| 306 | 306 | | for senate committee substit ute for senate bill no. 960, 290 |
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| 307 | 307 | | ninety-second general assembly, second regular session, for 291 |
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| 308 | 308 | | the next year of general reassessment, by an affirmative 292 |
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| 309 | 309 | | vote of the governing body prior to December thirty -first of 293 |
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| 310 | 310 | | any year. 294 |
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| 311 | 311 | | [15.] 16. The governing body of any city of the third 295 |
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| 312 | 312 | | classification with more than twenty -six thousand three 296 |
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| 313 | 313 | | hundred but fewer than twenty -six thousand seven hundred 297 |
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| 314 | 314 | | inhabitants located in any county that has exercised its 298 |
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| 315 | 315 | | authority to opt out under subsection [14] 15 of this 299 |
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| 316 | 316 | | section may levy separate and differing tax rates for real 300 |
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| 317 | 317 | | and personal property only if such city bills and collects 301 |
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| 318 | 318 | | its own property taxes or satisfies the entire cost of the 302 |
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| 319 | 319 | | billing and collection of such separate and differing tax 303 SB 171 11 |
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| 320 | 320 | | rates. Such separate and differing rates shall not exceed 304 |
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| 321 | 321 | | such city's tax rate ceiling. 305 |
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| 322 | 322 | | [16.] 17. Any portion of real property that is 306 |
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| 323 | 323 | | available as reserve for strip, surface, or coal mining for 307 |
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| 324 | 324 | | minerals for purposes of excavation for future use or sale 308 |
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| 325 | 325 | | to others that has not been bonded and permitted under 309 |
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| 326 | 326 | | chapter 444 shall be assessed based upon how the real 310 |
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| 327 | 327 | | property is currently being used. Any information provided 311 |
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| 328 | 328 | | to a county assessor, state tax commission, state agency, or 312 |
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| 329 | 329 | | political subdivision responsibl e for the administration of 313 |
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| 330 | 330 | | tax policies shall, in the performance of its duties, make 314 |
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| 331 | 331 | | available all books, records, and information requested, 315 |
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| 332 | 332 | | except such books, records, and information as are by law 316 |
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| 333 | 333 | | declared confidential in nature, including individ ually 317 |
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| 334 | 334 | | identifiable information regarding a specific taxpayer or 318 |
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| 335 | 335 | | taxpayer's mine property. For purposes of this subsection, 319 |
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| 336 | 336 | | "mine property" shall mean all real property that is in use 320 |
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| 337 | 337 | | or readily available as a reserve for strip, surface, or 321 |
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| 338 | 338 | | coal mining for minerals for purposes of excavation for 322 |
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| 339 | 339 | | current or future use or sale to others that has been bonded 323 |
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| 340 | 340 | | and permitted under chapter 444. 324 |
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| 341 | 341 | | |
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