H.J.Res.112

Missouri HJR112 proposes a constitutional amendment to change residential real property tax assessments.

Missouri HJR112 proposes a constitutional amendment to alter residential real property tax assessments. The amendment repeals Section 4(b) of Article X of the Missouri Constitution and replaces it with new provisions. It mandates that the true value of residential real property, including single-family and multiple-unit rentals, be based on the most recent previous assessment. Increases in assessed valuation are limited to the change in the consumer price index since the last assessment or a two-percent annual increase, whichever is less.