MO HB616

Merchandise held by rental companies (under NAICS codes 532412 or 532210) that offer short-term rentals and will subsequently sell the items is classified as inventory and exempt from ad valorem property taxes

"Short-term rental" is defined as rentals lasting less than 365 consecutive days, for an undefined period, or under an open-ended contract

New political subdivisions created by voter approval before July 1st of an assessment year become effective for property tax assessment purposes upon vote certification

New political subdivisions created by voter approval on or after July 1st become effective for assessment purposes in the following assessment year