Bill > HB54

This bill modifies Missouri state law regarding the assessment of tangible personal property (physical items owned by individuals or businesses) by changing where certain types of property are assessed for tax purposes. Specifically, the bill clarifies that most tangible personal property will be assessed in the county where the owner resides, with several important exceptions. For boats and related watercraft, the bill introduces new rules: houseboats, cabin cruisers, and boats that are stored outside the owner's county of residence (such as in a marina or on a lift) and are not regularly transported will now be assessed in the county where they are located, rather than the owner's county of residence. The bill also maintains existing provisions about assessing property for estates, farm equipment, and ensures that no single piece of tangible personal property can be assessed in more than one county simultaneously. For interstate commercial vehicles like tractors and trailers, the bill preserves the existing method of apportioning assessed value based on miles traveled in Missouri relative to total miles traveled in the United States.

https://house.mo.gov/Bill.aspx?bill=HB54&year=2025&code=R