SB857

Missouri SB857 modifies personal property tax provisions, including assessment rates and procedures.

Missouri SB857 modifies provisions relating to personal property taxes by adjusting assessment rates and procedures. The bill mandates that personal property be assessed at 33.33% of its true value in money starting from January 1, 2027, with annual reductions until December 31, 2075. It also outlines specific assessment percentages for various subclasses of tangible personal property, such as agricultural crops, livestock, and motor vehicles.