Bill > SJR89

This joint resolution proposes a constitutional amendment to modify property tax assessment rules in Missouri, to be voted on in the 2026 general election. The key provisions include establishing new assessment rules for different property classes, with specific focus on residential properties (subclass 1 of class 1). Starting January 1, 2027, the resolution would effectively freeze the assessed value of a homeowner's primary residence at its most recent previous assessment, meaning the property's taxable value would not increase as long as the current owner continues to own the property. The only exceptions to this freeze would be for properties that are newly purchased, newly constructed, or change ownership, which would be reassessed at their true market value, and for properties that undergo new construction or improvements, where the assessed value could be increased to reflect those specific additions. The resolution also maintains the existing limit that no property class can be assessed at more than 33.33% of its true value, and preserves the requirement that properties within the same subclass be assessed at the same percentage of value.

Budget and Finance

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=107