MO HB744

Repeals and replaces section 137.115 relating to property assessments in Missouri, affecting how real property is valued for tax purposes.

Freezes assessed values of real property (except new construction and improvements) as of January 1, 2011 and maintains those values through December 31, 2016, rather than reassessing every two years.

New construction and property improvements during the freeze period (2012-2016) shall be valued as of January 1 of the preceding odd-numbered year, with those valuations remaining in effect until January 1, 2017.

Maintains existing assessment percentages: personal property at 33⅓ percent of true value; real property subclass (1) at 19 percent, subclass (2) at 12 percent, and subclass (3) at 32 percent of true value.

Clarifies provisions for manufactured homes by referencing section 442.015 subsection 7 and section 700.111 regarding conversion to real property status.