Modifies provisions relating to the classification of certain residential real property used for short-term rentals

HB 1086 reclassifies single-family homes rented for less than 30 consecutive days as "residential property" for tax purposes, instead of treating them as "transient housing." This directly affects landlords using short-term rental platforms (like Airbnb) and local property tax assessors who determine tax classifications. The bill clarifies that such rentals - subject to sales tax under Missouri law - must be taxed as residential property, not under transient housing rules. This change ensures these properties are taxed at standard residential rates rather than higher transient rates. The law takes effect upon enactment, impacting how short-term rental properties are evaluated for property tax.