SCS/SB 87 - Current law assesses residential real property at 19% of its true value in money. Beginning with the 2026 tax year, this act reduces such percentage by 0.25% every two years until, for all tax years beginning on or after January 1, 2040, residential real property shall be assessed at 17% of its true value in money.

JOSH NORBERG

Statutes affected:
Introduced (1373S.01): 137.115
Committee (1373S.02): 137.115

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Senate Committee Minutes:
SENATE COMMITTEE MINUTES Bill No.: SB 87
Sponsor: Nicola
Hearing Date: 1/29/2025


COMMITTEE: Economic and Workforce Development

CHAIRMAN: Brown (26)

DATE REFERRED: 1/16/2025 DATE HEARING REQUESTED: 1/24/2025



STAFF:
Frank Catanzaro
Josh Norberg


WITNESSES GIVING INFORMATION:
Kenny Mohr - Missouri State Assessor's Association


WITNESSES FOR:
Lisa Pannett - Armorvine


WITNESSES AGAINST:
Otto Fajen - Missouri NEA