Real estate and tangible personal property shall be assessed annually at the assessment which commences on the first day of January. For purposes of assessing and taxing tangible personal property, all tangible personal property shall be divided into the following subclasses:

1. (1) Grain and other agricultural crops in an unmanufactured condition;
2. (2) Livestock;
3. (3) Farm machinery;
4. (4) Vehicles, including recreational vehicles, but not including manufactured homes, as defined in section 700.010, which are actually used as dwelling units;
5. (5) Manufactured homes, as defined in section 700.010, which are actually used as dwelling units;
6. (6) Motor vehicles which are eligible for registration and are registered as historic motor vehicles under section 301.131;
7. (7) Solar panels, racking systems, inverters, and related solar equipment, components, materials, and supplies installed in connection with solar photovoltaic energy systems, as described in subdivision (46) of subsection 2 of section 144.030, that were constructed and producing solar energy prior to August 9, 2022; and
8. (8) All taxable tangible personal property not included in subclass (1), subclass (2), subclass (3), subclass (4), subclass (5), subclass (6), or subclass (7).

(RSMo 1939 § 10970, A.L. 1945 p. 1774, A.L. 1959 H.B. 108, A.L. 1983 S.B. 63, et al., A.L. 1985 S.B. 152, A.L. 2025 S.B. 4)

Prior revisions: 1929 § 9779; 1919 § 12789; 1909 § 11371

(1959) Since each year's tax assessment is a separate determination and statutory provisions for review thereof are adequate, equity will not intervene because similar issues in successive years may be involved. Cupples-Hesse Corp. v. Bannister (Mo.), 322 S.W.2d 817.

(1979) Where a part of a building owned by a not-for-profit hospital was used for hospital purpose and a part for private medical practice, only the portion used exclusively for purposes purely charitable and on a not-for-profit basis would be exempt from property tax. Barnes Hospital v. Leggett (Mo.), 589 S.W.2d 241.