HB 2149 -- Personal Property Tax on Vehicles
This bill provides for state reimbursement of local personal
property taxes paid by taxpayers on qualifying motor vehicles
that are primarily non-commercial.
The reimbursement percentage of the value of a qualifying
vehicle will be 27.5% for calendar year 2002, 47.5% for 2003,
70% for 2004, and 100% for 2005 and thereafter. These
percentages may be reduced by a formula contained in the bill if
sufficient state general revenue funds are not available for
The bill defines qualifying motor vehicles, establishes a value
for the qualifying motor vehicles through the county assessor,
and provides procedures for notifying the taxpayer and the
Director of Revenue of the amount of reimbursement per taxpayer
and a method for directly reimbursing each taxpayer.
The bill also creates the Personal Property Tax Relief Fund in
the state treasury and provides a formula for determining the
amount of state funds to be deposited in the fund necessary to
reimburse all qualifying taxpayers each year.
Missouri House of Representatives' Home Page
Last Updated October 5, 2000 at 11:36 am