Lawmakers debate on the Missouri House floor in Jefferson City, Missouri, on Feb. 28, 2024. (AP Photo/David A. Lieb)
The bill "will ultimately mean less tax revenue for our schools (and) for public safety," said Democratic Rep. Peter Merideth, who opposed the measure.
The Tax Foundation, a nonprofit group that researches taxes, has said property taxes are likely to be the biggest tax issue in many state legislatures this year.
Several states already have enacted property tax cuts. West Virginia last year passed a credit for personal property taxes that residents pay annually on vehicles, at an estimated cost of $157 million to the state.
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Colorado lawmakers meeting in a November special session approved legislation increasing residential deductions for property tax purposes and decreasing the property tax assessment rate. In Texas, voters in November approved a plan cutting property taxes by $18 billion.
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https://www.foxnews.com/politics/missouri-house-passes-property-tax-cut-aiming-ease-burden-surging-vehicle-values