Modifies provisions relating to motor vehicle assessment valuations

HB 349 modifies how Missouri counties assess motor vehicle property taxes by establishing a specific 5% valuation rate for certain historic vehicles and aircraft. It directly affects owners of qualifying historic motor vehicles (registered under §301.131) and noncommercial aircraft over 25 years old used less than 200 hours yearly. The bill sets this lower rate - compared to standard 19% for residential property - applying only to these defined categories of vehicles. This change simplifies valuation for eligible taxpayers without altering general assessment rules for most property.