SPONSOR: McGirl
COMMITTEE ACTION: Voted "Do Pass" by the Special Committee on Property Tax Reform by a vote of 12 to 7. Voted "Do Pass" by the Standing Committee on Rules-Legislative by a vote of 9 to 3.
Currently, personal property is assessed at 33.3% of its true value in money as of January 1st of each calendar year. Beginning January 1, 2027, personal property must be assessed at 30% of its true value in money.
This bill is similar to HB 629 (2025).
PROPONENTS: Supporters say that the bill will give taxpayers relief by reducing the assessment rate.
Testifying in person for the bill were Representative Mcgirl; Associated Industries of Missouri; and Arnie Dienoff.
OPPONENTS: Those who oppose the bill say that the bill will shift the tax burden to every homeowner and every business in the taxing jurisdiction, and they cannot afford this change.
Testifying in person against the bill was Kenny Mohr, Missouri State Assessors Association.
Written testimony has been submitted for this bill. The full written testimony and witnesses testifying online can be found under Testimony on the bill page on the House website.
Statutes affected: