Proposes a constitutional amendment relating to real property tax assessments

HJR 89 proposes a constitutional amendment to limit how Missouri property taxes are calculated, primarily affecting homeowners with primary residences. It would cap annual tax increases for these homes at 5% unless new construction, improvements, or a property sale triggers a higher assessment based on current market value. The amendment also sets a maximum tax rate of 33.3% of a property’s true value across all classes and prohibits further subclassing of residential, agricultural, and commercial properties. This change would take effect January 1, 2027, for all residential real estate maintained as a primary residence.