Bill > SJR73

This joint resolution proposes a constitutional amendment establishing the Missouri Homestead Act, which would provide property tax exemptions for homeowners who meet specific criteria. Under the proposed act, Missouri residents can claim a property tax exemption for their primary residence if they have no mortgage, are not delinquent on taxes, and have paid their five-year tax liability (defined as the amount of property tax owed in the initial year multiplied by five). To obtain the exemption, homeowners must notify the county collector by September 1st and the exemption remains valid until the property is sold or the homeowner chooses to void it. The resolution creates a Homestead Preservation Fund, which will be funded by an additional 0.1% sales and use tax, to reimburse taxing jurisdictions for lost revenue. Taxing jurisdictions can apply annually for reimbursement based on the number and value of tax exemptions granted. The amendment also preserves homeowners' rights to possess, use, and control their property while maintaining existing legal provisions related to easements, utility access, and local ordinances. If approved, the amendment would take effect for calendar years beginning January 1, 2027, and would be submitted to voters at the November 2026 general election.