MO HB2329

Reduces the personal property tax assessment rate from 33.33% of true value to 18% over three years: 28.22% in 2027, 23.11% in 2028, and 18% in 2029 and thereafter

Freezes motor vehicle assessments for vehicles valued under $50,000 as of January 1, 2025, preventing increases above the previous year's assessed amount if properly assessed

Maintains existing lower assessment rates for specific property categories including grain/crops (0.5%), livestock (12%), farm machinery (12%), poultry (12%), and historic vehicles/certain aircraft (5%)

Applies to all Missouri counties and the City of St. Louis, amending section 137.115 RSMo