(Missourinet) -A proposal that would have reduced property taxes on autos, farm equipment, and other personal property failed to pass in the 2023 Legislative Session. The bill’s sponsor is state Senator Bill Eigel of Weldon Spring. This year, he hopes to eliminate property taxes. Eigel, a Republican, is filing a constitutional amendment that requires ‘spending discipline’ to offset property taxes at the local level.
“Basically, specifically how it’s going to work, it’s going to require a combination of either spending cuts or revenue growth, natural revenue growth to reimburse local counties for personal property tax revenues that they may be short on, and at the same time, it will get rid of personal property tax in the state of Missouri.”
Eigel did not specify how he would increase revenue to help offset the elimination of property taxes. The left-leaning Missouri Budget Project says it does not have enough information about the bill to comment.
