Bill > SJR54

This joint resolution proposes a constitutional amendment to modify property tax assessments in Missouri, to be voted on in the 2026 general election. The amendment would change how properties in different classes and subclasses are assessed for tax purposes, with a particular focus on residential properties (subclass 1 of class 1). Currently, properties can be assessed up to 33.33% of their true value, and the new provision would introduce significant protections for homeowners. Starting January 1, 2027, for primary residential properties, the assessed value would be "frozen" at the most recent previous assessment, meaning homeowners would not see increases in their property's taxable value as long as they continue to own the property. The only exceptions would be for properties that are purchased, newly constructed, or change ownership, which would be reassessed at true value, and for properties that undergo new construction or improvements, where the assessed value can be increased to reflect those added improvements. This amendment aims to provide stability and predictability for homeowners by limiting property tax assessment increases.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=3268075