JEFFERSON CITY — State Sen. Bill Eigel, R-Weldon Spring, announces he has pre-filed legislation to reduce personal property tax assessment rates for all Missourians. Senate Bill 24 gradually reduces personal property tax assessment rates each year until 2026, when the assessment rate would be 0.001%. Throughout his time in the Missouri Senate, Sen. Eigel has filed legislation to eliminate personal property tax, as well as reduce the percentage of income tax collected.
“I believe our policies on personal property tax have gotten out of control. The current attitude that we must raise our citizens’ taxes any time the government requires more funding is damaging and costly,” Sen. Eigel said. “I do not believe Missourians should be forced to pay more taxes simply for owning a vehicle or trailer. If we want to be serious about taking steps to improve our state’s economy, I believe we should start by letting our constituents keep more of their hard-earned money. This legislation is an important step in that direction, and I look forward to discussing it with my colleagues during the 2021 legislative session.”
Senator Eigel will be sworn in as a member of the 101st General Assembly on Jan. 6, 2021, and begin his second term serving the citizens of the 23rd Senatorial District.
To learn more about Sen. Eigel, please visit his Missouri Senate webpage: www.senate.mo.gov/eigel.