Changes the percentage of the cap on the inflationary growth factor for the assessment growth of real or personal property occurring within a political subdivision

HB 517 adjusts the maximum annual increase allowed for property tax rates due to inflation in Missouri. It limits the inflationary growth factor to the lower of the Consumer Price Index or 5% before January 1, 2026, and 3% on or after that date. This directly affects counties, school districts, and other local governments that levy property taxes, requiring them to recalculate tax rates when property values change. The bill ensures tax revenue from existing property remains stable by capping how much rates can rise each year due to inflation, without changing the actual tax burden.