HB3035

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.