Missouri HB3035 modifies motor vehicle assessment valuations, including new depreciation schedules and valuation methods.
Missouri HB3035 modifies provisions relating to motor vehicle assessment valuations. It mandates that assessors use a nationally recognized automotive trade publication for motor vehicles valued at less than $50,000. For vehicles valued at $50,000 or more, assessors must use the manufacturer's suggested retail price starting from January 1, 2027. The bill introduces a twelve-year depreciation schedule for motor vehicles and requires the state tax commission to secure an annual appropriation for the necessary programming.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.