The Missouri Senate Economic Development and Tax Policy Committee gavels in for the first time.
Among the three measures this panel heard was Senate Bill 8. If Senate Bill 8 were to become law, the percentage of personal property tax would be reduced yearly until 2073. Missouri personal property tax funds public schools, fire departments, and libraries.
Senator Bill Eigel of Weldon Spring is the sponsor, and says his proposal would reduce the personal property assessment percentage:
During committee discussion, Sen. Doug Beck of St. Louis used a fire department as an example, along with $1 in property tax:
Committee action has not yet been taken on Senate Bill 8.
Missouri senators will next move forward with knowledge gained from the governor’s annual budget address to lawmakers, commonly referred to as the State of the State.
