Bill > HB531

This bill modifies property tax assessment rules with two key provisions. First, it requires any ballot measure seeking to change real property taxes to express the proposed change in real dollars owed per $100,000 of property market value, making tax impact more transparent to voters. Second, the bill expands depreciation assessment rules to include certain stationary infrastructure properties used for transporting or storing liquids and gases (like water, sewage, and natural gas pipelines) beginning January 1, 2026. Under the new rules, these properties will be valued using a 20-year depreciation schedule, and property owners must provide detailed cost and service information to assessors by May 1st of the applicable tax year. Taxpayers can still challenge the assessed value with substantial evidence, such as professional appraisals. The bill aims to create more uniform and standardized property tax assessment methods, particularly for infrastructure-related real property, while also increasing ballot measure transparency about potential tax impacts.

Budget and Finance, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB531&year=2025&code=R