H.J.Res.150

Missouri HJR150 proposes a constitutional amendment to modify real property taxation provisions.

Missouri HJR150 proposes a constitutional amendment to change how real property taxes are levied. It prohibits counties and political subdivisions from increasing tax, license, or fee levies beyond authorized levels without approval. If the assessed valuation of real property increases more than the general price level, the tax levy must be reduced to maintain the same revenue. The amendment also limits the increase in total assessed valuation to the percentage increase in the general price level. The proposed changes take effect the year after the amendment's adoption.