MO HB955

Repeals and replaces section 137.115 relating to property assessment and valuation procedures in Missouri counties and the city of St. Louis.

Modifies motor vehicle valuation standards by allowing assessors to use "any nationally recognized guide used for establishing the value of motor vehicles" instead of specifically requiring the October issue of the National Automobile Dealers' Association Official Used Car Guide.

Maintains existing assessment rates: 33.33% for personal property, 19% for residential real property (subclass 1), 12% for subclass 2 real property, and 32% for subclass 3 real property.

Establishes special assessment rates for agricultural and heritage items including grain (0.5%), livestock (12%), farm machinery (12%), historic motor vehicles (5%), and poultry (12%).

Requires physical inspections before assessing increases over 15% on residential properties and provides property owners notification rights and ability to request interior inspections in counties with charter government and over one million inhabitants.