Section 137.123 was added by HB 734:
137.123.1. Beginning January 1, 2022, for purposes of assessing all real property, excluding land, or tangible personal property associated with a project that uses wind energy directly to generate electricity, thirty-seven and one-half percent of the original costs shall be the true value in money of such property. Such value shall begin the year immediately following the year of construction of the property. The original costs shall reflect either: (1) The actual and documented original property cost to the taxpayer, as shall be provided by the taxpayer to the assessor; or (2) In the absence of actual and documented original property cost to the taxpayer, the estimated cost of the property by the assessor, using an authoritative cost guide. 2. Nothing in this section shall be construed to prohibit a project from engaging in enhanced enterprise zone agreements under sections 135.950 to 135.973 or similar tax abatement agreements with state or local officials or to affect any existing enhanced enterprise zone agreements.
- This statute applies to property associated with projects that use wind energy to directly generate electricity.
- This statute provides a depreciation methodology for the assessors to follow in valuing the property falling under this provision.
- In 2019, HB 220 was enacted and established that all wind generation real and personal property used to generate electricity owned by a public utility would be assessed locally by county assessors.
Section 153.030.7 was added by HB 734:
Section 153.030.7(1). If any public utility company assessed pursuant to this chapter has ownership of any real or personal property associated with a generation project which was originally constructed utilizing financing authorized pursuant to chapter 100 for construction, upon the transfer of ownership of such property to the public utility company such property shall be valued and taxed by any local authorities having jurisdiction under the provisions of chapter 137 and other relevant provisions of law. (2) Notwithstanding any provision of law to the contrary, beginning January 1, 2022, for any public utility company assessed pursuant to this chapter which has ownership of any real or personal property associated with a generation project which was originally constructed utilizing financing authorized pursuant to chapter 100 for construction, upon the transfer of ownership of such property to the public utility company such property shall be assessed as follows: (a) Any property associated with a generation project which was originally constructed utilizing financing authorized pursuant to chapter 100 for construction shall be assessed upon the county assessor’s local tax rolls. The assessor shall rely on the public utility company for cost information of the generation portion of the property as found in the public utility company’s Federal Energy Regulatory Commission Financial Report Form Number One at the time of transfer of ownership, and depreciate the costs provided in a manner similar to other commercial and industrial property. (b) Any property consisting of land and buildings related to the generation property associated with a generation project which was originally constructed utilizing financing pursuant to chapter 100 for construction shall be assessed under chapter 137; and (c) All other business or personal property related to a generation project which was originally constructed utilizing financing pursuant to chapter 100 for construction shall be assessed using the methodology provided under section 137.122.
- This statute applies to real property or personal property associated with energy generation projects that were originally constructed using Chapter 100 financing for construction and then ownership was transferred to a public utility company.
- This statute provides that such property shall be assessed locally.
- This statute provides a depreciation methodology for the assessors to follow in valuing the property subject to this provision.
Section 153.034.4 was added by HB 734:
Section 153.034.4. For any real or tangible personal property associated with a generation project which was originally constructed utilizing financing authorized under chapter 100 for construction, upon the transfer of ownership of such property to a public utility, such property shall be valued and taxed by local authorities having jurisdiction under the provisions of chapter 137 and any other relevant provisions of law. The method of taxation prescribed in subsection 2 of section 153.030 and subsection 1 of this section shall not apply to such property.
- This statute applies to real property or personal property associated with energy generation projects that were originally constructed using Chapter 100 financing for construction and then ownership was transferred to a public utility company.
- This statute provides that said Chapter 100 property shall be assessed locally (in the county where the property has situs).
Section 137.115.3(4) was amended by SB 153 and SB 97:
Section 137.115.3(4). The following items of personal property shall each constitute separate subclasses of tangible personal property and shall be assessed and valued for the purposes of taxation at the following percentages of their true value in money: . . . Motor vehicles which are eligible for registration as and are registered as historic motor vehicles pursuant to section 301.131 and aircraft which are at least twenty-five years old and which are used solely for noncommercial purposes and are operated less than two hundred hours per year or aircraft that are home built from a kit, five percent;
- This amendment increased the number of operating hours of aircraft used for non-commercial purposes that are at least 25 years old from less than 50 hours per year to less than 200 hours per year for purposes of establishing the rate of assessment of those aircraft.
Section 137.280.5 was added by HB271:
Section 137.280.5. An assessor may, upon request of a taxpayer, send any assessment list or notice required by this section to such taxpayer in electronic form.
- This provision applies to taxpayers’ tangible personal property assessment lists who are required to file and return their assessments on locally assessed property between January 1 and March 1. The provision does not apply to tangible personal property assessment lists of merchants and manufacturers, railroads, public utilities, pipeline companies, or any other person or corporation subject to special statutory requirements, such as chapter 151, who shall return and file their assessments on locally assessed property no later than April 1.
- This provision allows a taxpayer to “opt-in” to receipt of his or her assessment list or notice in electronic form.
- By its plain language, this provision does not repeal or rescind the requirement of the assessor to send by mail or deliver to the taxpayer a form for the taxpayer to report his or her tangible personal property.
- This provision does not define “electronic form,” but one could reasonably infer electronic form could include email or Internet-based account.