Missouri HB2692 modifies assessed valuation of residential real property, including reassessments and property tax rates.
Missouri HB2692 modifies provisions for the assessed valuation of residential real property. It sets specific percentages for assessing various types of tangible personal property, including agricultural crops, livestock, and farm machinery. The bill mandates that assessors use nationally recognized automotive trade publications to determine the true value of motor vehicles. It also allows counties and cities to opt out of certain provisions and establishes a two-year assessment maintenance plan.
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