MO HB2780

Requires all Missouri counties and cities not within a county to set separate tax levy rates for each subclass of real property (residential, agricultural, commercial) and personal property beginning January 1, 2027, eliminating the current opt-out provision that allowed some jurisdictions to use a single blended rate

Prohibits personal property tax levy rates from increasing over the prior year's levy and caps motor vehicle assessments for vehicles valued under $50,000 at the previous year's assessed amount (effective January 1, 2025)

Requires physical inspection of residential (subclass 1) and commercial (subclass 3) real property before an assessor can increase assessed valuation by more than 15% since the last assessment, excluding new construction or improvements

Reduces the minimum operating levy school districts must maintain to receive full state aid from $2.75 to $2.20 per $100 assessed valuation beginning with the 2026-27 school year

Clarifies that when voters approve a temporary tax levy increase followed by a subsequent levy increase, the tax rate ceiling must decrease when the temporary levy expires unless voters specifically approve making it permanent