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SB857 • 2026

Modifies provisions relating to personal property taxes

Modifies provisions relating to personal property taxes

Taxes
Passed Legislature

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

Sponsor
Brattin, Rick; House handler: N/A
Last action
2026-01-08
Official status
Second Read and Referred S Select Committee on Property Taxes and the State Tax Commission 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

  1. 2026-01-08 S125

    Second Read and Referred S Select Committee on Property Taxes and the State Tax Commission Committee

  2. 2026-01-07 S36

    S First Read

  3. 2025-12-01 Missouri House of Representatives and Missouri Senate

    Prefiled

Official Summary Text

The following summaries of this bill are available:

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Introduced

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SB 857 - Current law requires that personal property be assessed at 33.3% of its true value in money. This act requires political subdivisions to annually reduce such percentage such that the amount by which the revenue generated by taxes levied on such personal property is reduced is substantially equal to one hundred percent of the growth in revenue generated by real property assessment growth, as defined in the act. Annual reductions shall be made until December 31, 2075. Thereafter, the percentage of true value in money at which personal property is assessed shall be equal to the percentage in effect on December 31, 2075.

Subject to appropriations, a political subdivision that receives less than the allowable amount of total real and personal property tax revenues shall be eligible for reimbursement from the state in an amount equal to the amount by which such revenues are below the allowable amount.

This act is identical to SB 294 (2025), SB 274 (2025), SB 1086 (2024), SB 725 (2024), and SB 733 (2024), and to a provision in SS/SB 1207 (2024), and is substantially similar to SS/SCS/SB 8 (2023) and SB 493 (2023), and to a provision in HCS/SCS/SB 163 (2025), SB 171 (2025), SB 359 (2025), HB 464 (2025), SCS/HB 629 (2025), HB 903 (2025), HB 988 (2025), HCS/SS/SB 23 (2023), HCS/SS#3/SCS/SB 131 (2023), SS/SCS/SB 133 (2023), as amended, HCS/SS/SB 143 (2023), HCS/SB 247 (2023), and SCS/HCS#2/HB 713 (2023).
JOSH NORBERG