Bill > HB2416

This bill modifies property assessment and taxation regulations in Missouri, establishing comprehensive guidelines for how various types of property should be valued and taxed. The bill requires county assessors to annually assess personal property at 33.33% of its true value and real property at specific percentages depending on its subclass, with different assessment rates for various property types such as agricultural crops (0.5%), livestock (12%), farm machinery (12%), historic motor vehicles (5%), and solar equipment (5%). The legislation introduces new provisions for property valuation, including requirements for physical inspections before significantly increasing property assessments, mandating the use of nationally recognized automotive value guides for motor vehicle assessments, and allowing counties to opt out of certain assessment provisions before January 1, 2027. The bill also clarifies rules for assessing manufactured homes, specifying their tax classification based on their location and usage, and provides guidelines for how counties and cities can handle property tax collection, including accepting credit card payments and managing tax rates for properties in multiple counties. Additionally, the bill establishes procedural requirements for assessors when determining property values, such as using comparable property sales and providing property owners with notice and rights during the assessment process.

https://house.mo.gov/Bill.aspx?bill=HB2416&year=2026&code=R