Bill > SB1522

This bill modifies various provisions related to property taxes in Missouri, including how assessors value property, the process for appealing assessments, and how tax protests are handled. Key changes include specifying that assessors must use nationally recognized automotive trade publications for valuing motor vehicles, with certain limitations on increasing assessments for older vehicles unless a physical inspection is performed, and requiring assessors to notify property owners of their rights and provide at least thirty days' notice before a physical inspection. The bill also introduces a new section that clarifies the "common level of assessment" and "individual level of assessment" for real property, stating that if the common level is lower than an individual assessment, the individual assessment should be lowered upon appeal. Additionally, it adjusts the burden of proof in certain assessment appeals, allowing for the recovery of attorney's fees and costs for taxpayers in specific circumstances, and modifies the process for protesting taxes, including the timeframe for commencing legal action and the handling of impounded tax funds, with provisions for interest on refunds when taxes are disbursed to taxing authorities before a final decision.

Budget and Finance

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=104730