Bill > HB3035

This bill modifies how motor vehicles and manufactured homes are assessed for property taxes in Missouri. For tax years ending on or before December 31, 2026, assessors will use nationally recognized automotive guides, like Kelley Blue Book, to determine the true value of motor vehicles, with specific rules for newer vehicles and a cap on assessment increases for vehicles valued under $50,000. Beginning January 1, 2027, the original value of motor vehicles will be set at 85% of the manufacturer's suggested retail price (MSRP), with a standardized depreciation schedule applied over 12 years, and a minimum assessed value of $300. The bill also clarifies that manufactured homes used as dwellings will be assessed at the same percentage of true value as residential real property, and outlines procedures for their taxation and removal from tax books if unidentifiable. Additionally, it includes provisions for physical inspections of real property before significant valuation increases and allows for credit card and electronic fund transfers for tax payments.

Budget and Finance, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB3035&year=2026&code=R