Missouri House perfects bill to limit personal property tax growth under Hancock rules

The Missouri House perfected House Bill 1766, a measure that would alter how personal property valuation growth is treated under Hancock (the state’s property‑tax limitation framework) so that increases in personal property valuation are subject to the same limitations applied to real‑property valuations.

Representative (Gentleman from Washington), the bill sponsor, said personal property valuations have risen nearly 30% since 2020 and current practice treats increases as new construction outside Hancock limits. He said the change would slow growth in tax collections tied to personal property valuations and make treatment more consistent with real estate.

Members questioned how political subdivisions (schools, libraries, fire districts) would manage inflationary costs and whether Hancock’s exclusion for new construction was intended to allow communities to expand services for growth. Supporters described the measure as a fairness issue that prevents passive valuation gains from creating windfalls; opponents cautioned it could constrain revenues used for local services.

The House perfected and printed HB1766 on the floor; the measure will continue through the legislative process for committee scheduling and further votes.