Modifies provisions relating to property tax assessments

This proposed constitutional amendment would change Missouri's property tax rules for primary residences. Starting January 1, 2027, homeowners maintaining their main residence would keep their previous tax assessment value, preventing annual increases unless they make major improvements like new construction. This specifically affects residential property owners (Class 1, Subclass 1) but leaves agricultural, commercial, and other property classes under separate tax rules. The amendment aims to stabilize property tax bills for long-term homeowners by freezing reassessment values unless significant changes occur to the property.