MO HB2415

Defines "assessment value" for real property assessment with three components: buildings valued using replacement cost approach reconciled with other valuation methods, non-agricultural land valued by market value, and agricultural/horticultural land valued by productive capability under section 137.021

Requires the State Tax Commission to use ratio studies when determining whether property classes are valued above or below true value for equalization purposes across counties

Property is considered undervalued if the weighted median ratio is less than 70% combined with either a coefficient of dispersion greater than 25% or the upper bound of the 95% confidence interval below 70%

Property is considered overvalued if the weighted median ratio exceeds 100% combined with either a coefficient of dispersion greater than 25% or the upper bound of the 95% confidence interval exceeding 100%

Amends sections 137.016 and 138.390 RSMo relating to real property assessment procedures in Missouri