Bill > HJR150

This joint resolution proposes a constitutional amendment for the state of Missouri that would significantly alter how real property taxes are levied and adjusted. Essentially, it aims to limit the growth of property tax revenue by tying it to inflation and voter approval. The key provisions state that local governments (counties and other political subdivisions) cannot impose new taxes, licenses, or fees, nor can they increase existing ones, without first getting approval from a majority of voters. Furthermore, if the assessed value of real property increases more than the general inflation rate, the tax rate must be reduced to collect the same amount of revenue as the previous year, adjusted for inflation. Similarly, if the definition of what is taxed is expanded, the tax rate must be lowered to maintain the same revenue. The amendment also introduces specific rules for subclasses of real property, requiring voter approval for any levy increases needed to maintain revenue due to changes in assessed value. Exceptions are made for taxes used to pay off bonds or other debts authorized before the amendment takes effect. This resolution is being submitted to Missouri voters for approval at the general election in November 2026 or a special election called by the governor.

https://house.mo.gov/Bill.aspx?bill=HJR150&year=2026&code=R