MO SB723

Assessors shall assess personal property at 33.33% of true value and real property at assessment percentages set in subsection 5 (19% for subclass 1, 12% for subclass 2, 32% for subclass 3).

New assessed values for real property shall be determined on January 1 of odd-numbered years and applied in the following even-numbered year, with new construction and improvements valued as of the preceding odd-numbered year.

County boards of equalization must render decisions on appeals within 30 days from the date the appeal is lodged, replacing previous fixed deadline dates tied to July and August.

Motor vehicle assessors shall use the lowest applicable trade-in value from any nationally recognized guide current as of October of the assessment year, replacing the specific reference to the National Automobile Dealers' Association guide.

Boards of equalization may meet as necessary to fairly hear cases from general reassessments and render timely decisions, replacing fixed meeting date restrictions.