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MO HB1527

Bill

Official Source

Status

Introduced

1/3/2024

Primary Sponsor

Cyndi Buchheit-Courtway

Click for details

Origin

House of Representatives

2024 Regular Session

AI Summary

  • Adds motor vehicles that are at least seven years old (based on model year) and used solely for noncommercial purposes to the category of personal property assessed at 5% of true value in money, reducing their assessment from the standard 33.33% rate
  • Retains the existing 5% assessment rate for historic motor vehicles registered under section 301.131 and qualifying aircraft (at least 25 years old, noncommercial, under 200 hours/year or home-built from a kit)
  • Amends section 137.115, RSMo, which governs how county assessors determine assessed values for real and tangible personal property across all Missouri counties and the City of St. Louis
  • Introduced by Representative Buchheit-Courtway during the Second Regular Session of the 102nd General Assembly

Legislative Description

Modifies provisions relating to taxation of vehicles over seven years old

Last Action

Voted Do Pass (H)

4/24/2024

Committee Referrals

Transportation Infrastructure2/29/2024

Full Bill Text

No bill text available