Modifies provisions relating to payments of real and personal property taxes

HB 1906 allows Missouri counties to let property owners pay real and personal property taxes in installments (annual, semiannual, or quarterly) instead of one lump sum. Taxpayers pay based on an estimate of last year's tax bill, adjusted at year-end for any overpayment (refunded by the county) or underpayment (paid by the taxpayer). Counties must establish collection procedures and can charge interest if installments are missed. This applies to most property owners but excludes financial institutions paying taxes from escrow accounts as defined by federal regulations.