Modifies provisions relating to the duties of the state tax commission

Summary

The measure directs the Missouri State Tax Commission to classify all real estate and tangible personal property into specific categories and to adjust each county’s assessed values so they reflect true market values. It requires the commission to use ratio studies and set statistical thresholds to decide when a class of property is undervalued or overvalued. The goal is to create more uniform property tax assessments across the state.

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