Missouri HB3297 creates new provisions for property development, including tax exemptions and reduced parking requirements for multifamily projects.
Missouri HB3297 introduces new regulations for property development, particularly multifamily and mixed-use residential projects. It mandates that political subdivisions authorize these developments in commercial, industrial, or mixed-use zones if at least 40% of residential units are affordable for 30 years. The bill exempts certain properties from ad valorem property taxes if they house low-income families and meet specific criteria. It also reduces parking requirements for developments within half a mile of public transit systems. The provisions apply starting from tax year 2027.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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