Missouri HB2709 modifies property tax rate calculation and ceiling provisions.
Missouri HB2709 modifies provisions governing the taxation of property by adjusting the calculation and ceiling of tax rates. It mandates that tax rates be set based on the most recent voter-approved rate or the most recent voter-approved rate adjusted for inflation. The bill also requires that any increase in the tax rate ceiling must be approved by a majority vote of the people. It specifies that all tax levy increases must be applied equally to each subclass of property.
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