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EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
and is intended to be omitted in the law.
SECOND REGULAR SESSION
SENATE JOINT RESOLUTION NO. 70
103RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR BRATTIN.
5187S.02I KRISTINA MARTIN, Secretary
JOINT RESOLUTION
Submitting to the qualified voters of Missouri, an amendment repealing section 4(b) of article X
of the Constitution of Missouri, and adopting one new section in lieu thereof relating
to property taxes.
Be it resolved by the Senate, the House of Representatives concurring therein:
That at the next general election to be held in the 1
state of Missouri, on Tuesday next following the first Monday 2
in November, 2026, or at a special election to be called by 3
the governor for that purpose, there is hereby submitted to 4
the qualified voters of this state, for adoption or 5
rejection, the following amendment to article X of the 6
Constitution of the state of Missouri:7
Section A. Section 4(b), article X, Constitution of 1
Missouri, is repealed and one new section adopted in lieu 2
thereof, to be known as section 4(b), to read as follows:3
Section 4(b). 1. Property in classes 1 and 2 and 1
subclasses of those classes[,] shall be assessed for tax 2
purposes at its value or such percentage of its value as may 3
be fixed by law for each class and for each subclass. 4
Property in class 3 and its subclasses shall be taxed only 5
to the extent authorized and at the rate fixed by law for 6
each class and subclass, and the tax shall be based on the 7
annual yield and shall not exceed eight percent thereof. 8
Property in class 1 shall be subclassed in the following 9
classifications: 10
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(1) Residential property; 11
(2) Agricultural and horticultural property; 12
(3) Utility, industrial, commercial, railroad, and all 13
other property not included in subclasses (1) and (2) of 14
class 1. 15
Property in the subclasses of class 1 may be defined by law, 16
however subclasses (1), (2), and (3) shall not be further 17
divided, provided, land in subclass (2) may by general law 18
be assessed for tax purposes on its productive capability. 19
The same percentage of value shall be applied to all 20
properties within any subclass. No classes or subclass 21
shall have a percentage of its true value in money in excess 22
of thirty-three and one-third percent. 23
2. (1) Notwithstanding the provisions of subsection 1 24
of this section and section 3 of this article to the 25
contrary, beginning January 1, 2027, for all property in 26
subclass (1) of class 1 that has been maintained by the 27
homeowner as his or her primary residence, the true value of 28
such property shall be deemed to be the same value 29
determined at the most recent previous assessment of the 30
property. 31
(2) In a reassessment of property in subclass (1) of 32
class 1 that has been maintained by the homeowner as his or 33
her primary residence, the assessed valuation of such 34
property shall not be increased from the assessed valuation 35
of such property determined at its most recent previous 36
assessment while the owner or owners continue to own such 37
property. Real property in subclass (1) of class 1 that is 38
purchased, newly constructed, or undergoes a change in 39
ownership subsequent to the first assessment immediately 40
following the effective date of this section shall be 41
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reassessed at its true value in money as provided by law, 42
after which the assessed value of such property shall not 43
increase while the new owner or owners continue to own such 44
property. 45
(3) Notwithstanding subdivision (2) of this subsection 46
to the contrary, the assessed valuation of property in 47
subclass (1) of class 1 may be increased to reflect the 48
value added to the property as a result of new construction 49
or improvements made to the property as determined by the 50
county appraisal system. 51
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