
Missouri House approves reducing personal property taxes, relaxing car inspections
The Missouri House passed several bills Thursday, including one that will broadly loosen car inspection requirements and another that would reduce the values used to calculate personal property taxes.Both bills now proceed to the Senate.Currently, personal property taxes in Missouri are determined based on one-third of market value. House Bill 903 would reduce that to 18% of market value over a three-year period.“The tax on personal property is not only an inefficient tax, but a tax that most wo...