Reduces the assessment percentage of tangible personal property over a period of years

Summary

The measure repeals the existing personal‑property tax rule and sets a schedule to cut the assessed percentage from roughly 33% of true value to 18% by 2029. It applies to all tangible personal property owned by individuals or businesses in every Missouri county and the City of St. Louis. The change is intended to reduce the tax burden while keeping assessors required to list and value property each year.

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