MO HB1207

Adds sawmills and planing mills that alter logs from their original form to the definition of "agricultural and horticultural property" for property tax classification purposes under Missouri Constitution Article X, Section 4(b)

Covers sawmills and planing mills defined in the U.S. Department of Labor's Standard Industrial Classification Manual under Industry Group 242 with SIC numbers 2421, 2426, or 2429

Allows taxing districts to adjust operating levies to recoup revenue losses from the reclassification, provided the adjustment does not exceed the highest tax rate in effect after 1980

Applies to property assessments made after December 31, 1994

Repeals and replaces Section 137.016, RSMo, which defines real property classifications for taxation purposes