HB1800

HB 1800 modifies the cap on inflationary growth for property assessments in Missouri, defines assessment value, and updates sales ratio studies by.

HB 1800 changes the percentage of the cap on the inflationary growth factor for property assessments in Missouri, defining assessment value and adjusting the cap to three percent for changes occurring after January 1, 2027. It mandates that political subdivisions revise their tax rates to maintain the same revenue levels as the previous year, excluding new construction and improvements. The bill also updates the provisions for sales ratio studies performed by the State Tax Commission, ensuring they reflect current economic conditions and property values.