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A push to reduce Missouri's personal property tax has stalled in the Senate, despite a proposal that could save residents hundreds of dollars. State Senator Bill Idol, motivated by his gubernatorial campaign, is advocating for this tax cut, highlighting that Missouri has the third highest personal property tax rate in the U.S. The proposal aims to lower the rate from 33.3% to 31%. On average, Missouri households with two vehicles pay between $300 and $400 per vehicle in taxes. Senator Bill Eagle emphasizes that the current tax structure disproportionately impacts working-class individuals, making the need for a change urgent.
