JULY 20, 2006 - Posted at 8:10 a.m. CDT
JEFFERSON CITY, MO - The state will be collecting more information from home buyers, in an effort to boost the amount of sales data used in property assessments.
The move by the State Tax Commission follows recommendations from a legislative tax panel.
The Joint Committee on Tax Policy was charged with studying property assessments as part of last year's rewrite of the state's formula for funding public schools.
A key recommendation of the panel is for the tax commission to start sending forms to those who buy or sell residential property, asking them to disclose the price.
There has been a fight for decades in Missouri over collecting property sales data. It's among only a few states lacking a sales disclosure law. It's among only a few states lacking a sales disclosure law. Assessors would like the information to more accurately guage a property's market value.