MO HB1892

Beginning January 1, 2027, extends Missouri's standardized depreciation schedule for business personal property to certain real property used for transporting or storing liquid and gaseous products, including water, sewage, and natural gas (excluding propane, LP gas, and petroleum products)

Requires assessors to value covered stationary infrastructure using a 20-year recovery period depreciation schedule, applying to property placed in service at any time

Mandates that taxpayers submit original cost and year placed in service information to assessors by May 1st of each tax year, using state tax commission-approved forms

Taxpayers must certify information accuracy under penalty of perjury, and all submitted data is treated as proprietary information accessible only to assessor staff for internal use

Clarifies that taxpayers may challenge the presumed depreciation-based value through appraisals, evidence of economic or functional obsolescence, or proof of excessive physical deterioration