House Bill 903, introduced in Missouri on January 16, 2025, aims to reform property assessment procedures and taxation methods across the state. The bill primarily addresses the use of computer-assisted methods in property valuation, shifting the burden of proof onto assessors during hearings or appeals. This change is designed to ensure that assessments made by automated systems are transparent and justifiable.

Key provisions of the bill stipulate that if a property assessment is conducted using a computer program, the assessor must provide clear and convincing evidence to support the valuation. This includes appraisals based on accepted techniques and sales data from comparable properties. The bill defines "comparable" properties with specific criteria, ensuring that assessments are based on relevant and similar properties within a reasonable distance.

Additionally, House Bill 903 outlines new subclasses for personal property, establishing distinct assessment percentages for various categories, including agricultural crops, livestock, and historic vehicles. For instance, grain and unmanufactured crops would be assessed at just half a percent of their true value, while livestock and farm machinery would be taxed at twelve percent.

The bill has sparked notable discussions among lawmakers, particularly regarding the implications of relying on automated assessments. Supporters argue that it enhances fairness and accountability in property taxation, while opponents express concerns about the potential for inaccuracies in computer-generated valuations.

The economic implications of House Bill 903 could be significant, particularly for farmers and small business owners who may benefit from lower assessment rates on personal property. However, the bill's reliance on technology raises questions about the adequacy of current systems to handle complex property evaluations accurately.

As the legislative process unfolds, stakeholders are closely monitoring the bill's progress, anticipating potential amendments and debates that could shape its final form. The outcome of House Bill 903 may set a precedent for property assessment practices in Missouri, influencing how local governments approach taxation in the future.