HB 2946 reduces Missouri's tax assessment rate for tangible personal property (like business equipment, vehicles, and inventory) over a three-year phase-in. It lowers the assessment percentage from 33.33% before 2027 to 22% in 2027, 11.11% in 2028, and 0.01% (effectively eliminating the tax) starting in 2029. This directly affects businesses and individuals who own taxable tangible personal property subject to county-level property taxes. The bill repeals the existing assessment rate in Section 137.115 of Missouri law and replaces it with these new phased reductions.
HJR 150 proposes a constitutional amendment that would limit local governments' ability to increase property tax rates without voter approval. It prohibits counties or cities from raising existing property tax rates above current levels without voter consent, and requires automatic tax reductions if property value increases outpace inflation (to maintain the same revenue). The amendment also excludes taxes for bond payments or debt obligations from these limits. This directly affects local governments and property owners by changing how property tax rates can be adjusted based on property values and inflation.
HB 2709 modifies how local governments adjust property tax rates when property valuations change. It requires counties, school districts, and other political subdivisions to revise tax rates for each property subclass (e.g., residential, commercial) whenever assessed values shift, ensuring they collect roughly the same tax revenue as the previous year - excluding new construction. The bill sets limits: tax rates cannot exceed the highest voter-approved rate from the 1980s (adjusted for inflation), and annual rate increases are capped at the consumer price index or 5%, whichever is lower. This directly affects local governments that collect property taxes, ensuring revenue stability while preventing unchecked rate hikes.
HJR 162 would require at least 20% of eligible voters to cast ballots in elections for new property tax bonds or renewals of existing property tax levies. For such measures to pass, they must also receive majority support from voters who participate. This directly affects local governments and school districts seeking to fund services like roads or schools through property tax levies. The bill sets these dual thresholds to ensure broader community engagement before tax-related measures can be approved.
HJR 131 proposes a constitutional amendment to Missouri's Article X that would establish new property tax exemptions and set a state revenue limit. It would exempt certain properties (veterans' homesteads, manufacturing inventories, religious/charitable properties) from taxation and require counties to replace lost tax revenue through a new countywide tax on specific commercial property. The amendment also sets a state revenue cap, limiting total state taxes (excluding federal funds) to a formula based on historical revenue and Missouri personal income, effective for fiscal year 2027-2028. This would directly affect businesses (manufacturers, retailers), property owners (veterans, religious organizations), and local governments managing tax replacement mechanisms. The amendment requires voter approval to take effect.
HB 2060 reclassifies short-term residential rentals (less than 30 days) as "residential property" for tax purposes in Missouri, directly affecting homeowners and property managers who rent single-family homes or rooms for brief stays. The bill clarifies that such rentals - subject to sales tax under state law - must be taxed as residential property, not as "transient housing" like hotels. This change ensures these properties are treated consistently with traditional residential real estate under Missouri's tax classification system. The law also updates definitions to exclude short-term rentals from being considered "transient housing" for tax classification purposes.
HJR 132 proposes a constitutional amendment to exempt buildings under construction from property taxes. Specifically, it would exempt structures classified as "class 1 property" that are not yet usable for their intended purpose due to ongoing construction. This change would directly affect property owners and developers building new commercial or residential structures. The amendment requires voter approval through a constitutional referendum, as outlined in the bill's text.
HB 1800 modifies Missouri's property tax system by changing the inflation-based cap on how much local governments (cities, counties, school districts) can increase property tax rates annually. It revises the calculation for the "inflationary growth factor," requiring political subdivisions to adjust tax rates to maintain the same revenue as the previous year when property values change, but within a new, lower cap on rate increases. This directly affects local governments that collect property taxes, as they must recalibrate levies to match revenue from the prior year while adhering to the updated inflation limit. The bill replaces the existing cap with a revised formula to prevent excessive annual tax rate hikes tied to property value changes.
HB 2467 would allow Missouri counties to create a property tax exemption for homeowners aged 62 or older who live in their primary residence (homestead). To qualify, individuals must own the property, use it as their main home, and pay the associated taxes. Counties would need to adopt a local ordinance to implement the exemption, which would cover 100% of the homestead’s tax bill starting in 2027. This exemption cannot be transferred, and recipients cannot also claim other property tax benefits or credits under state law.
HB 1766 modifies how local governments adjust property tax rates when property valuations change. It requires counties, cities, and school districts to revise tax rates for different property types (like residential or commercial) to maintain the same total tax revenue as the previous year, excluding certain properties such as railroads and utilities. The bill sets limits on rate increases, preventing them from exceeding voter-approved ceilings or a 5% annual inflation cap. This ensures local governments collect consistent revenue after valuation changes while adhering to constitutional and legal constraints.
