Bill > SJR2

This joint resolution proposes a constitutional amendment to modify property tax provisions in Missouri, to be voted on in the 2026 general election. The resolution introduces several key changes to property taxation, including establishing specific subclasses for property (residential, agricultural/horticultural, and utility/industrial/commercial) and limiting the assessment of property value to no more than 33.1/3% of its true value. Most notably, the resolution creates a new property tax credit system for eligible homeowners, where taxpayers can claim a credit equal to the difference between their current real property tax liability and their tax liability in an initial credit year. The credit would begin in January 2027 and applies to Missouri residents who own and occupy a primary residence. The resolution also includes provisions for how the credit would be calculated in cases of new construction, improvements, or annexation into new taxing jurisdictions. Additionally, the amendment includes a provision prohibiting taxes on unrealized gains from asset appreciation prior to an asset's sale.

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=E1&BillID=18267447