Bill > SB1088

This bill modifies the definition of residential property in Missouri's tax code by clarifying how certain single-family homes are classified for property tax purposes. Specifically, the bill adds language stating that a single-family home owned by a sole proprietor, individual, partnership, or limited liability company that is leased for less than 30 consecutive days will still be classified as residential property, even if it is subject to short-term rental sales tax. The bill also explicitly states that leasing a single-family home for less than 30 days does not, in itself, constitute "transient housing," which could otherwise change its property classification. This modification ensures that property owners who engage in short-term rentals (such as through platforms like Airbnb) will not have their property reclassified to a potentially higher tax rate commercial category. The bill provides flexibility for property owners while maintaining the residential property classification, which could have implications for tax rates and local government revenue collections.

Budget and Finance, Government Affairs

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=525