Missouri HB2859 reduces personal property assessment percentages and provides a tax exemption for certain personal property upon constitutional.
Missouri HB2859 reduces the assessment percentage of certain personal property over several years, starting at 30% in 2027 and decreasing to 16% by 2041. It also provides a personal property tax exemption for farm machinery and motor vehicles upon adoption of a constitutional amendment. The bill includes provisions for physical inspections, assessment maintenance plans, and the use of nationally recognized automotive trade publications for valuing motor vehicles. It also addresses the assessment of manufactured homes and solar equipment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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