H.J.Res.152

Missouri HJR152 proposes a constitutional amendment to change real property tax assessments.

Missouri HJR152 proposes a constitutional amendment to modify property tax assessments. It repeals Section 4(b) of Article X of the Missouri Constitution and introduces new provisions. The amendment limits annual increases in assessed valuation for residential real property to no more than five percent. It also allows for higher increases if the property has new construction or improvements, or if ownership has changed. The amendment specifies that property in classes 1 and 2, including subclasses, will be assessed based on their true market value.