| 10 | | - | SectionA.Section137.122,RSMo,isrepealedandtwonewsectionsenactedinlieu |
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| 11 | | - | 2thereof,tobeknownassections137.067and137.122,toreadasfollows: |
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| 12 | | - | 137.067.Notwithstandinganyotherprovisionoflawtothecontrary,anyballot |
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| 13 | | - | 2measureseekingapprovaltoadd,change,ormodifyataxonrealpropertyshallexpress |
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| 14 | | - | 3theeffectoftheproposedchangewithintheballotlanguageintermsofthechangein |
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| 15 | | - | 4realdollarsowedperonehundredthousanddollarsofaproperty'smarketvaluation. |
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| 10 | + | SectionA.Section137.122,RSMo,isrepealedandonenewsectionenactedinlieu |
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| 11 | + | 2thereof,tobeknownassection137.122,toreadasfollows: |
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| 16 | 12 | | 137.122.1.Asusedinthissection,thefollowingtermsmean: |
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| 17 | 13 | | 2 (1)"Businesspersonalproperty",tangiblepersonalpropertywhichisusedinatrade |
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| 18 | 14 | | 3orbusinessorusedforproductionofincomeandwhichhasadeterminablelifeoflongerthan |
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| 19 | 15 | | 4oneyearexceptthatsuppliesusedbyabusinessshallalsobeconsideredbusinesspersonal |
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| 20 | 16 | | 5property,butshallnotincludelivestock,farmmachinery,grainandotheragriculturalcropsin |
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| 21 | 17 | | 6anunmanufacturedcondition,propertysubjecttothemotorvehicleregistrationprovisionsof |
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| 22 | 18 | | 7chapter301,propertyassessedundersection137.078,thepropertyofruralelectric |
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| 23 | 19 | | 8cooperativesunderchapter394,orpropertyassessedbythestatetaxcommissionunder |
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| 24 | 20 | | 9chapters151,153,and155,section137.022,andsections137.1000to137.1030; |
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| 25 | 21 | | 10 (2)"Classlife",theclasslifeofpropertyassetoutinthefederalModified |
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| 26 | 22 | | 11AcceleratedCostRecoverySystemlifetablesortheirsuccessorsundertheInternalRevenue |
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| 27 | 23 | | 12Codeasamended; |
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| 35 | 31 | | 19thoseassetsremaininginplaceandinuseandtheplaced-in-servicedateshallbethedateof |
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| 36 | 32 | | 20acquisitionbytheentitybeingacquired; |
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| 37 | 33 | | 21 (5)"Placedinservice",propertyisplacedinservicewhenitisreadyandavailablefor |
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| 38 | 34 | | 22aspecificuse,whetherinabusinessactivity,anincome-producingactivity,atax-exempt |
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| 39 | 35 | | 23activity,orapersonalactivity.Evenifthepropertyisnotbeingused,thepropertyisin |
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| 40 | 36 | | 24servicewhenitisreadyandavailableforitsspecificuse; |
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| 41 | 37 | | 25 (6)"Recoveryperiod",theperiodoverwhichtheoriginalcostofdepreciabletangible |
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| 42 | 38 | | 26personalpropertyshallbedepreciatedforpropertytaxpurposesandshallbethesameasthe |
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| 43 | 39 | | 27recoveryperiodallowedforsuchpropertyundertheInternalRevenueCode. |
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| 44 | 40 | | 28 2.Toestablishuniformityintheassessmentofdepreciabletangiblepersonalproperty, |
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| 45 | 41 | | 29eachassessorshallusethestandardizedscheduleofdepreciationinthissectiontodetermine |
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| 46 | 42 | | 30theassessedvaluationofdepreciabletangiblepersonalpropertyforthepurposeofestimating |
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| 47 | 43 | | 31thevalueofsuchpropertysubjecttotaxationunderthischapter. |
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| 48 | 44 | | 32 3.Forpurposesofthissection,andtoestimatethevalueofdepreciabletangible |
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| 49 | 45 | | 33personalpropertyformassappraisalpurposes,eachassessorshallvaluedepreciabletangible |
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| 50 | 46 | | 34personalpropertybyapplyingtheclasslifeandrecoveryperiodtotheoriginalcostofthe |
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| 51 | 47 | | 35propertyaccordingtothefollowingdepreciationschedule.Thepercentageshownforthefirst |
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| 52 | 48 | | 36yearshallbethepercentageoftheoriginalcostusedforJanuaryfirstoftheyearfollowingthe |
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| 53 | 49 | | 37yearofacquisitionoftheproperty,andthepercentageshownforeachsucceedingyearshall |
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| 54 | 50 | | 38bethepercentageoftheoriginalcostusedforJanuaryfirstoftherespectivesucceedingyear |
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| 55 | 51 | | 39asfollows: |
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| 56 | 52 | | 40 Year RecoveryPeriodinYears |
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| 57 | 53 | | 41 3 5 7 10 15 20 |
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| 58 | 54 | | 42 1 75.0085.0089.2992.5095.0096.25 |
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| 59 | 55 | | 43 2 37.5059.5070.1678.6285.5089.03 |
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| 60 | 56 | | 44 3 12.5041.6555.1366.8376.9582.35 |
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| 61 | 57 | | 45 4 5.0024.9942.8856.8169.2576.18 |
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| 62 | 58 | | 46 5 10.0030.6348.0762.3270.46 |
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| 63 | 59 | | 47 6 18.3839.3356.0965.18 |
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| 64 | 60 | | 48 7 10.0030.5950.1960.29 |
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| 71 | 67 | | 55 14 29.00 |
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| 72 | 68 | | 56 15 24.54 |
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| 73 | 69 | | 57 16 20.08 |
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| 74 | 70 | | 58 17 20.00 |
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| 75 | 71 | | 59 |
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| 76 | 72 | | 60Depreciabletangiblepersonalpropertyinallrecoveryperiodsshallcontinueinsubsequent |
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| 77 | 73 | | 61yearstohavethedepreciationfactorlastlistedintheappropriatecolumnsolongasitis |
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| 78 | 74 | | 62ownedorheldbythetaxpayer.Thestatetaxcommissionshallstudyandanalyzethevalues |
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| 79 | 75 | | 63establishedbythismethodofassessmentandineveryodd-numberedyearmake |
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| 80 | 76 | | 64recommendationstothejointcommitteeontaxpolicypertainingtoanychangesinthis |
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| 81 | 77 | | 65methodology,ifany,thatarewarranted. |
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| 82 | 78 | | 66 4.Suchestimateofvaluedeterminedunderthissectionshallbepresumedtobe |
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| 83 | 79 | | 67correctforthepurposeofdeterminingthetruevalueinmoneyofthedepreciabletangible |
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| 84 | 80 | | 68personalproperty,butsuchestimationmaybedisprovedbyataxpayerbysubstantialand |
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| 85 | 81 | | 69persuasiveevidenceofthetruevalueinmoneyunderanymethoddeterminedbythestatetax |
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| 86 | 82 | | 70commissiontobecorrect,including,butnotlimitedto,anappraisalofthetangiblepersonal |
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| 87 | 83 | | 71propertyspecificallyutilizinggenerallyacceptedappraisaltechniques,andcontainedina |
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| 88 | 84 | | 72narrativeappraisalreportinaccordancewiththeUniformStandardsofProfessionalAppraisal |
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| 89 | 85 | | 73Practiceorbyproofofeconomicorfunctionalobsolescenceorevidenceofexcessive |
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| 90 | 86 | | 74physicaldeterioration.Forpurposesofappealoftheprovisionsofthissection,thesalvageor |
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| 91 | 87 | | 75scrapvalueofdepreciabletangiblepersonalpropertymayonlybeconsiderediftheproperty |
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| 92 | 88 | | 76isnotinuseasoftheassessmentdate. |
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| 93 | 89 | | 77 5.Thissectionshallnotapplytobusinesspersonalpropertyplacedinservicebefore |
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| 94 | 90 | | 78January2,2006.Nothinginthissectionshallcreateapresumptionastothepropermethodof |
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| 95 | 91 | | 79determiningtheassessedvaluationofbusinesspersonalpropertyplacedinservicebefore |
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| 96 | 92 | | 80January2,2006. |
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| 97 | 93 | | 81 6.Theprovisionsofthissectionarenotintendedtomodifythedefinitionoftangible |
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| 98 | 94 | | 82personalpropertyasdefinedinsection137.010. |
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| 99 | 95 | | 83 7.(1)BeginningJanuary1,2026,thissectionshallapplytoallrealproperty, |
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| 100 | 96 | | 84placedinserviceatanytime,thatisstationarypropertyusedfortransportationor |
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| 107 | 103 | | 91presumptionastothepropermethodofdeterminingtheassessedvalueofsuchproperty |
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| 108 | 104 | | 92shallapplyregardlessofwhensuchpropertywasplacedinservice. |
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| 109 | 105 | | 93 (3)Eachtaxpayerowningrealpropertydescribedinthissubsectionshall |
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| 110 | 106 | | 94providetoanassessor,onorbeforeMayfirstoftheapplicabletaxyear,theoriginalcost |
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| 111 | 107 | | 95andyearplacedinserviceofsuchpropertysummarizedinaformatthatissubstantially |
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| 112 | 108 | | 96similartotherealpropertyreportingandvaluationformscontainedinsection7.4ofthe |
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| 113 | 109 | | 97statetaxcommissionassessormanual(revisiondateMarch23,2016)oranyother |
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| 114 | 110 | | 98revisionadoptedbythestatetaxcommissionthereafter.Uponthewrittenrequestofthe |
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| 115 | 111 | | 99assessor,suchinformationshallbeprovidedforeachtaxingdistrictwithintheassessor's |
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| 116 | 112 | | 100jurisdiction.Ifrequestedbythetaxpayer,theassessorshallprovidetothetaxpayer |
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| 117 | 113 | | 101geographicinformationsystemmapsinreadablelayersonwhichataxpayermay |
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| 118 | 114 | | 102providetheinformationinthissubsection.Thetaxpayershallcertifyunderpenaltyof |
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| 119 | 115 | | 103perjurythattheinformationprovidedtotheassessorpursuanttothissubsectionis |
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| 120 | 116 | | 104accuratetothebestofhisorherknowledge.Allinformationprovidedtoanassessor |
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| 121 | 117 | | 105pursuanttothissubsectionshallbeconsideredproprietaryinformationandshallbe |
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| 122 | 118 | | 106accessibleonlytotheassessorandtheassessor'sstaffforinternaluseonly. |
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| 123 | 119 | | âś” |
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