Missouri SB1118 modifies personal property assessment provisions, including reassessment methods and tax rate calculations.
Missouri SB1118 modifies provisions relating to personal property assessments, including reassessment methods and tax rate calculations. The bill specifies that personal property reassessments should include new construction and improvements. It mandates that assessors use nationally recognized automotive trade publications to determine the true value of motor vehicles. The bill also outlines procedures for physical inspections of properties and allows for the reclassification of real property.
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