Modifies provisions governing the calculation of assessed valuation of real and personal property

HB 3476 modifies how Missouri counties calculate property taxes for real and personal property. It changes the assessment rate for personal property to use a "base year value" starting January 1, 2027, and reduces taxes for solar equipment installed before August 2022 to 5% of value. The bill also adjusts airport-related property assessments by subtracting costs paid by non-government parties for improvements after 2008. Property owners, counties, and the City of St. Louis are directly affected, with assessments now tied to a biennial cycle (odd-year valuations applied in the following even year). Key provisions include updated tax rates for specific property types like agricultural crops (0.5%) and livestock (12%), alongside new rules for computer-assessed properties.