Land Use & Zoning
Missouri's Chapter 137 RSMo governs property assessment and taxation. An important provision is that:
AAll property is taxed at the same rate
BDifferent classes of property are taxed at different assessment ratios (residential 19%, commercial 32%, agricultural 12%)✓ Correct
CTaxes are set by MREC annually
DAll Missouri counties use the same mill rate
Explanation
Missouri Chapter 137 RSMo establishes the property tax assessment framework including the classification system (residential at 19%, commercial at 32%, agricultural at 12% of true value). Each taxing jurisdiction sets its own mill levy.
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