Bill > HB2755

This bill modifies several property tax provisions in Missouri by updating definitions for different property types, including residential, agricultural, and utility properties, and establishing new rules for how assessors must interact with property owners before reclassifying their property, requiring an in-person consultation or documented good-faith effort to contact them. It also introduces a property tax credit for eligible taxpayers, which is calculated as the difference between their current real property tax liability and their liability in an initial credit year (2024), with annual increases capped at 2.5% or the inflation rate, whichever is lower, and a higher cap of 7.5% in certain counties where property is valued below its true market value. Additionally, the bill caps increases on personal property tax liability to the amount owed in 2024 or the first year the taxpayer incurred such liability, and it revises how the State Tax Commission equalizes property valuations among counties by using specific statistical measures to determine if property is undervalued or overvalued.

https://house.mo.gov/Bill.aspx?bill=HB2755&year=2026&code=R