MO HB2705

Amends Missouri property assessment law (section 137.076) to add properties eligible for the Missouri low-income housing tax credit (section 135.352) to the list of properties that must be assessed using an income-based approach

Requires county assessors to use income-based valuation for properties with federal or state restrictions related to rent limitations, operations requirements, or other housing-related restrictions

Clarifies that neither federal nor state tax credits or subsidies may be used when calculating the capitalization rate, with a specific exception for the Missouri low-income housing tax credit

Income-based approach must use direct capitalization methodology, dividing net operating income by a capitalization rate not exceeding the county's average current market data

Properties become subject to standard assessment methods upon expiration of their land use restriction agreement