Modifies provisions relating to the assessed valuation of real property

This bill updates how Missouri assessors calculate property tax values for real estate and personal property. It requires assessors to value personal property at 33.33% of its true worth and establishes specific rules for valuing real property, including new construction and airport-related interests. The law also sets a schedule for updating assessments every two years, outlines procedures for creating assessment maintenance plans, and shifts the burden of proof to assessors when using computer programs to value certain properties.