Missouri HB2890 modifies the taxation of mineral rights, assessing and taxing them separately from the landowner.

Missouri HB2890 changes the tax rules for mineral rights. It mandates that rights and interests in oil, gas, or other minerals beneath land, owned by someone other than the landowner, are assessed and taxed separately. This applies to federal, state, or county land. The taxes on these mineral rights, if not held by the landowner, will not create a lien. The bill repeals and replaces section 259.220, RSMo, with new language to reflect these changes.

Missouri HB2890 modifies the taxation of mineral rights, assessing and taxing them separately from the landowner.

Missouri HB2890 changes the tax rules for mineral rights. It mandates that rights and interests in oil, gas, or other minerals beneath land, owned by someone other than the landowner, are assessed and taxed separately. This applies to federal, state, or county land. The taxes on these mineral rights, if not held by the landowner, will not create a lien. The bill repeals and replaces section 259.220, RSMo, with new language to reflect these changes.