☰ Revisor of Missouri


Chapter 137

< > Effective - 28 Aug 2015, 2 histories    bottom

  137.076.  Valuation by assessor, factors to be considered — income-based approach for assessment of parcels. — 1.  In establishing the value of a parcel of real property the county assessor shall consider current market conditions and previous decisions of the county board of equalization, the state tax commission or a court of competent jurisdiction that affected the value of such parcel.  For purposes of this section, the term "current market conditions", shall include the impact upon the housing market of foreclosures and bank sales.

  2.  In establishing the value of a parcel of real property, the county assessor shall use an income-based approach for assessment of parcels of real property with federal or state imposed restrictions in regard to rent limitations, operations requirements, or any other restrictions imposed upon the property in connection with:

  (1)  The property being eligible for any income tax credits under Section 42 of the Internal Revenue Code of 1986, as amended;

  (2)  Property constructed with the use of the United States Department of Housing and Urban Development HOME investment partnerships program;

  (3)  Property constructed with the use of incentives provided by the United States Department of Agriculture Rural Development; or

  (4)  Property receiving any other state or federal subsidies provided with respect to use of the property for housing purposes.  



For the purposes of this subsection, the term "income-based approach" shall include the use of direct capitalization methodology and computed by dividing the net operating income of the parcel of property by an appropriate capitalization rate not to exceed the average of the current market data available in the county of said parcel of property.  Federal and state tax credits or other subsidies shall not be used when calculating the capitalization rate.  Upon expiration of a land use restriction agreement, such parcel of property shall no longer be subject to this subsection.


(L. 1993 H.B. 541 § 1, A.L. 2012 H.B. 1818, A.L. 2015 H.B. 613)

---- end of effective  28 Aug 2015 ----

use this link to bookmark section  137.076

 - All versions
Effective End
137.076 8/28/2015
137.076 8/28/2012 8/28/2015

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Missouri Senate
State of Missouri
Missouri House