Missouri HB3476 modifies property tax assessment ratios and procedures for real and personal property.
Missouri HB3476 revises the calculation of assessed valuation for real and personal property. It mandates the state tax commission to adjust assessment ratios for each subclass of real property to match the previous year's statewide assessed value plus inflationary growth, limited to the total assessed value growth. The bill sets specific assessment percentages for various types of real and personal property, including agricultural crops, livestock, and manufactured homes.
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