Modifies provisions relating to personal property assessments

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Fitzwater, Travis; House handler: N/A
Last action: 2026-01-15
Official status: Second Read and Referred S Local Government, Elections and Pensions Committee
Effective date: 2026-08-28

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2026-01-15 S188
Second Read and Referred S Local Government, Elections and Pensions Committee
2026-01-07 S62
S First Read
2025-12-01 Missouri House of Representatives and Missouri Senate
Prefiled

Official Summary Text

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Introduced

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SB 1118 - This act modifies provisions relating to personal property assessments.

PERSONAL PROPERTY NEW CONSTRUCTION
For the purposes of calculating the amount of assessed valuation of personal property, current law provides that the definition of new construction and improvements is the aggregate increase in valuation of personal property for the current year over that of the previous year. This act provides that, beginning January 1, 2028, new construction and improvements shall not include increases in the aggregate assessed valuation of personal property. (Section 137.073)

This provision is substantially similar to SB 409 (2023) and HB 754 (2023).

PERSONAL PROPERTY ASSESSMENT RATE
Current law requires personal property to be assessed at 33.3% of its true value in money. This act reduces such assessment rate to 30%. (Section 137.115.1)

This act is substantially similar to SB 264 (2025).
JOSH NORBERG