Bill > HJR6

This joint resolution proposes a constitutional amendment that fundamentally changes property taxation in Missouri by eliminating personal property taxes and restructuring how real property is classified and taxed. The amendment would require that only real property be taxed, with specific classifications for residential, agricultural/horticultural, and utility/industrial/commercial properties. For residential properties, a new tier system would be established based on a property's square footage and age, replacing traditional assessed valuation methods. The amendment eliminates personal property taxes for businesses and inventories starting in the second calendar year after adoption, and provides mechanisms for political subdivisions to adjust their tax rates to compensate for lost revenue. The proposed changes aim to simplify the property tax system, prevent classification based on property owner characteristics, and create a more standardized approach to property taxation. The amendment would be submitted to voters in the 2026 general election and, if approved, would significantly transform Missouri's property tax landscape by focusing exclusively on real property taxation and establishing a new tier-based assessment method for residential properties.

Budget and Finance

https://house.mo.gov/Bill.aspx?bill=HJR6&year=2025&code=S2