Bill > HB780

This bill modifies provisions relating to the assessed valuation of residential real property in Missouri, introducing a significant change to how residential properties are valued for tax purposes beginning January 1, 2026. The key provision is that the true value in money of a primary residential property will be "frozen" at its December 31, 2025 assessment value, with limited opportunities for increases. Specifically, the assessed value can only increase if there are new construction or improvements that add at least 50% to the property's value. For properties sold after January 1, 2026, the new assessed value will be the most recent purchase price. Property owners can opt into this new assessment method, but it is not mandatory. The bill requires assessors to provide more transparent information about how property values are calculated, including making available any third-party documents or data used in determining the assessment. Additionally, the bill mandates that when assessors notify property owners of valuation increases, they must provide detailed information about potential tax liability, including projected tax rates from different political subdivisions. The goal appears to be providing homeowners with more predictability and protection against rapid increases in property tax assessments.

Budget and Finance, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB780&year=2025&code=R