Bill > HB2671

This bill modifies provisions governing property assessment and taxation in Missouri by repealing and reenacting sections 137.073, 137.079, and 137.115 of the Revised Statutes of Missouri (RSMo). Key changes include defining terms like "general reassessment," "tax rate," "tax rate ceiling," and "tax revenue" to clarify how property taxes are calculated and adjusted. The bill mandates that political subdivisions, such as school districts and counties, revise their tax rates to maintain substantially the same amount of tax revenue as the previous year, excluding new construction and improvements, while also allowing for adjustments based on inflation and voter-approved increases. It also introduces new rules for assessing personal and real property, including specific percentages of true value for different subclasses of real property and personal property, and outlines procedures for assessment maintenance plans, the use of computer-assisted valuations, and the process for appealing property assessments. Additionally, the bill addresses how to handle disputed property valuations and provides mechanisms for taxpayers to challenge non-compliance with tax laws, including the possibility of class-action lawsuits and refunds for erroneously paid taxes. Finally, it establishes that beginning January 1, 2027, counties and cities not within a county will be responsible for determining assessed valuations, setting and revising tax rates, and making adjustments to current levies for each subclass of real property and personal property individually.

Budget and Finance

https://house.mo.gov/Bill.aspx?bill=HB2671&year=2026&code=R