Modifies provisions relating to tax levies by political subdivisions

This bill modifies how local governments in Missouri label and calculate tax levies on ballots and property assessments. It requires that ballot measures for new or changed taxes be labeled only with numbers or letters rather than descriptive titles, and it mandates that real property tax changes be expressed in specific dollar amounts per $100,000 of property value. The legislation also updates definitions for terms like "tax rate" and "tax revenue," while establishing rules for how local authorities must adjust tax rates when property values change to maintain consistent revenue levels. Additionally, it sets limits on how much tax rates can increase to account for inflation, capping such adjustments at the lower of the actual assessment growth or the consumer price index.