SPONSOR: Terry
Upon voter approval, beginning January 1, 2027, this proposed Constitutional amendment provides that residential property will be assessed at 50 percent of the value at which such property would otherwise be assessed if the property owner is:
(1) Age 65 years or older; or
(2) An individual who is permanently disabled under Federal law or the laws of this state; and
(3) Has a Missouri taxable income for the most recently completed income tax year before the date of property tax assessment of $50,000 or less, or $75,000 or less if such taxpayer is married and filing jointly.
This bill is the same as HJR 85 (2024) and similar to HJR 5 (2023).