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MO HB1890
Bill
Status
2/18/2014
Primary Sponsor
Nick Marshall
Click for details
AI Summary
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Assessors may use Kelly Blue Book or other credible resources to determine motor vehicle trade-in value, in addition to the National Automobile Dealers' Association Official Used Car Guide.
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Assessors must consider facts offered by taxpayers when deviating from valuation guides or resources used to determine motor vehicle true value.
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No increase in assessed valuation of any real property shall exceed the greater of the property's fair market value or 125 percent of the property's immediately preceding assessment.
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Assessors are prohibited from using values greater than average trade-in value for motor vehicles without performing a physical inspection, except for vehicles two years old or newer from their model year.
Legislative Description
Allows assessors to use the Kelly Blue Book or other credible resource when determining the trade-in value of a motor vehicle and restricts increases in real property valuation assessments
Last Action
Referred: Local Government(H)
4/2/2014