MO HB3035

For tax years through December 31, 2026, assessors must use nationally recognized automotive trade publications (NADA, Kelley Blue Book, Edmunds) selected by the state tax commission to determine motor vehicle values, using the October trade-in value.

Motor vehicles valued under $50,000 as of January 1, 2025, cannot be assessed higher than the previous year's assessment if properly assessed.

Beginning January 1, 2027, assessors must use 85% of the manufacturer's suggested retail price (MSRP) as the basis for motor vehicle valuations, with a standardized 12-year depreciation schedule ranging from 15% (current year) to 90% (year 12).

Vehicles older than 12 years will have a minimum assessed value of $300.

The state tax commission must work with the Missouri State Assessors' Association to secure MSRP data from a nationally recognized service, with values delivered to software vendors by November 15th annually for implementation by December 15th.