HOUSE JOINT RESOLUTION NO. 126 103RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE TERRY.
4099H.01I JOSEPH ENGLER, Chief Clerk
JOINT RESOLUTION Submitting to the qualified voters of Missouri an amendment repealing Section 4(b) of Article X of the Constitution of Missouri, and adopting one new section in lieu thereof relating to property tax.
Be it resolved by the House of Representatives, the Senate concurring therein:
That at the next general election to be held in the state of Missouri, on Tuesday next 2 following the first Monday in November, 2026, or at a special election to be called by the 3 governor for that purpose, there is hereby submitted to the qualified voters of this state, for 4 adoption or rejection, the following amendment to Article X of the Constitution of the state of 5 Missouri: Section A. Section 4(b), Article X, Constitution of Missouri, is repealed and one new 2 section adopted in lieu thereof, to be known as Section 4(b), to read as follows: Section 4(b). 1. Property in classes 1 and 2 and subclasses of those classes[,] shall be 2 assessed for tax purposes at its value or such percentage of its value as may be fixed by law 3 for each class and for each subclass. Property in class 3 and its subclasses shall be taxed only 4 to the extent authorized and at the rate fixed by law for each class and subclass, and the tax 5 shall be based on the annual yield and shall not exceed eight percent thereof. Property in 6 class 1 shall be subclassed in the following classifications: 7 (1) Residential property; 8 (2) Agricultural and horticultural property;
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HJR 126 2
9 (3) Utility, industrial, commercial, railroad, and all other property not included in 10 subclasses (1) and (2) of class 1. 11 12 Property in the subclasses of class 1 may be defined by law, however subclasses (1), (2), and 13 (3) shall not be further divided, provided, land in subclass (2) may by general law be assessed 14 for tax purposes on its productive capability. The same percentage of value shall be applied 15 to all properties within any subclass. No classes or subclass shall have a percentage of its true 16 value in money in excess of thirty-three and one-third percent. 17 2. Beginning January 1, 2027, residential property that is owned by an 18 individual who is sixty-five years of age or older or an individual who is permanently 19 disabled under federal law or under the laws of this state, and who has a federal taxable 20 income, for the most recently completed income tax year before the date of property tax 21 assessment, of fifty thousand dollars or less, or seventy-five thousand dollars or less if 22 such taxpayer is married and filing jointly, shall be assessed at fifty percent of the value 23 at which such property would otherwise be assessed under subsection 1 of this section. ✔