Bill > SB795

This bill modifies the State Tax Commission's ratio studies by adding a new provision that limits how counties are assessed for tax purposes. Specifically, the bill mandates that in any ratio study conducted by the commission to evaluate assessment ratios across counties, no county's ratio of assessed values can exceed one (1). A ratio study is a process used to determine whether property in a given area is being assessed at a consistent and fair market value. By capping the assessment ratio at one, the bill aims to prevent counties from over-assessing property values, which could potentially result in higher property taxes. This change represents a technical adjustment to how property assessments are conducted and compared across different counties in Missouri, with the apparent goal of creating more uniform and equitable property tax assessment practices.

Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=6625976