Missouri HB3164 modifies the duties of the state tax commission to equalize property valuations among counties.

Missouri HB3164 revises the state tax commission's duties to ensure the equalization of property valuations across counties. The bill repeals and replaces existing provisions, introducing new criteria for determining whether property is overvalued or undervalued. It mandates the use of ratio studies to assess property values and specifies conditions for classifying property as overvalued or undervalued. The changes aim to enhance the accuracy and fairness of property assessments statewide.

Missouri HB3164 modifies the duties of the state tax commission to equalize property valuations among counties.

Missouri HB3164 revises the state tax commission's duties to ensure the equalization of property valuations across counties. The bill repeals and replaces existing provisions, introducing new criteria for determining whether property is overvalued or undervalued. It mandates the use of ratio studies to assess property values and specifies conditions for classifying property as overvalued or undervalued. The changes aim to enhance the accuracy and fairness of property assessments statewide.