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MO HB968
Bill
Status
3/31/2011
Primary Sponsor
Rodney Schad
Click for details
AI Summary
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Classifies new watercraft purchased on or after August 28, 2011 as residential property instead of tangible personal property for tax assessment purposes.
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Watercraft must have bath and toilet facilities, sleeping area, and kitchen facilities to qualify for residential property classification.
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Watercraft must be registered under Missouri law, eligible for the federal home mortgage interest deduction, and used as the taxpayer's principal or temporary residence.
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Excludes watercraft from the "vehicles" subclass of tangible personal property in Missouri's property tax code.
Legislative Description
Changes the classification of certain new watercraft from personal property to residential property for property taxation purposes
Last Action
Public Hearing Completed (H)
4/27/2011