Modifies provisions relating to motor vehicle assessment valuations

HB 1690 modifies how Missouri assessors calculate tax values for various types of real and personal property. The bill establishes specific assessment percentages for different categories, such as taxing historic vehicles and older aircraft at five percent and farm machinery at twelve percent. It also sets distinct valuation rates for real property subclasses, including nineteen percent for residential land and thirty-two percent for commercial interests near airports. Additionally, the law clarifies procedures for computer-assisted valuations by placing the burden of proof on the assessor to demonstrate that a property was evaluated using automated methods.