HB1892

HB1892 modifies property tax assessments for certain stationary property in Missouri.

HB1892 modifies property tax assessments for certain stationary property used for transportation or storage of liquid and gaseous products, excluding propane and LP gas. It applies to real property placed in service after January 1, 2027, and requires assessors to use a standardized depreciation schedule for estimating the value of depreciable tangible personal property. The bill excludes specific types of property from its provisions and mandates that assessors make recommendations to the joint committee on tax policy every odd-numbered year regarding changes to the assessment methodology.