MO HB1547

Repeals and reenacts section 137.115 relating to property valuation and assessment procedures in Missouri counties.

Authorizes assessors to use the Kelly Blue Book, National Automobile Dealers' Association Official Used Car Guide, or any other credible resource when determining motor vehicle values for tax assessment purposes.

Requires assessors to consider facts offered by taxpayers when deviating from valuation guides or resources used to determine motor vehicle true value.

Maintains existing assessment rates: tangible personal property at 33.33% of true value, real property subclass (1) at 19%, subclass (2) at 12%, and subclass (3) at 32% of true value.

Preserves special assessment rates for agricultural items, livestock, farm machinery, historic vehicles, and other designated property categories.