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MO SB1517
Bill
AI Summary
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Reduces the assessment rate for residential real property from 19% to 18% of true value in money for tax year 2025 and subsequent years
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Lowers the assessment rate for agricultural and horticultural property from 12% to 11% of true value in money beginning in tax year 2025
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Applies the reduced residential assessment rate to real property used solely for residential purposes, including mobile homes and manufactured homes on permanent foundations
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Maintains the existing assessment rate structure for commercial and other property classifications not specifically modified by this legislation
Legislative Description
Modifies provisions relating to property taxes
Last Action
Hearing Conducted S Select Committee on Property Taxes and the State Tax Commission Committee
2/11/2026