Updated June 2016
Personal Property Statute
On August 28, 2015 the Missouri Legislature enacted Section 137.122.1 which requires county assessors to apply the “standardized schedule of depreciation” to determine assessed value of personal property which will be “presumed to be correct.”
Owners may challenge the assessment by presenting substantial and persuasive evidence of value.
It appears many county assessors are resisting using the depreciation concept in setting assessed value. Only time will tell how this plays out.
The Wallach Law Firm
American Property Tax Counsel (APTC)