Modifies provisions relating to property taxes

SB 1001 modifies Missouri property tax laws to create a more uniform assessment system and strengthen protections for property owners during disputes. The bill requires that all properties within the same classification be assessed at the same rate, mandating that any individual property assessed higher than the average for its class be lowered upon appeal. It also shifts the burden of proof to the tax assessor in specific counties and cities to demonstrate that a property's value has not increased beyond its true market value. Additionally, the legislation allows taxpayers to pay their taxes under protest without penalty and provides for the reimbursement of legal fees if an appeal successfully reduces a property's assessed value by a significant percentage.