Changes the percentage of the cap on the inflationary growth factor for the assessment growth of real or personal property occurring within a political subdivision, defines assessment value, and adds provisions related to the sales ratio studies performed by the State Tax Commission

HB 1800 modifies Missouri's property tax system by changing the inflation-based cap on how much local governments (cities, counties, school districts) can increase property tax rates annually. It revises the calculation for the "inflationary growth factor," requiring political subdivisions to adjust tax rates to maintain the same revenue as the previous year when property values change, but within a new, lower cap on rate increases. This directly affects local governments that collect property taxes, as they must recalibrate levies to match revenue from the prior year while adhering to the updated inflation limit. The bill replaces the existing cap with a revised formula to prevent excessive annual tax rate hikes tied to property value changes.