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

Summary

The bill repeals the existing personal‑property assessment rule and sets new rates: 33.33% of true value through 2026, then 22.02% in 2027, 11.11% in 2028, and 0.01% thereafter. It applies to all counties and the City of St. Louis, affecting owners of equipment, vehicles, livestock and other tangible personal items. The goal is to reduce the tax burden on personal‑property owners.

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