MO HB2178

Repeals and reenacts section 137.021 of Missouri law regarding assessment of agricultural land values for property tax purposes.

Changes the frequency of state tax commission valuations of agricultural land from every odd-numbered year (through 2014) to every four years beginning January 1, 2015, with the first valuation completed by December 31, 2017.

Prohibits the state tax commission from increasing agricultural land productive values by more than 2 percent above prior values in any single rule promulgation.

Prohibits any increase in agricultural land productive values if 25 percent or more of Missouri counties have been affected by a natural disaster declared by the President or governor within the previous four years.

Prohibits increases in agricultural land productive values if there has been a substantial decrease in global agricultural product prices in the previous four years, as determined by a majority vote of specified agricultural and legislative leaders.