FIRSTREGULARSESSION
[PERFECTED]
HOUSECOMMITTEESUBSTITUTEFOR
HOUSEJOINT
RESOLUTION NO.33&45
102NDGENERALASSEMBLY
0831H.05P DANARADEMANMILLER,ChiefClerk
JOINTRESOLUTION
SubmittingtothequalifiedvotersofMissourianamendmentrepealingSection4(b)ofArticle
XoftheConstitutionofMissouri,andadoptingonenewsectioninlieuthereof
relatingtopropertytaxassessments.
BeitresolvedbytheHouseofRepresentatives,theSenateconcurringtherein:
ThatatthenextgeneralelectiontobeheldinthestateofMissouri,onTuesdaynext
2followingthefirstMondayinNovember,2024,orataspecialelectiontobecalledbythe
3governorforthatpurpose,thereisherebysubmittedtothequalifiedvotersofthisstate,for
4adoptionorrejection,thefollowingamendmenttoArticleXoftheConstitutionofthestateof
5Missouri:
SectionA.Section4(b),ArticleX,ConstitutionofMissouri,isrepealedandonenew
2sectionadoptedinlieuthereof,tobeknownasSection4(b),toreadasfollows:
Section4(b).1.Propertyinclasses1and2andsubclassesofthoseclasses[,] shallbe
2assessedfortaxpurposesatitsvalueorsuchpercentageofitsvalueasmaybefixedbylaw
3foreachclassandforeachsubclass.Propertyinclass3anditssubclassesshallbetaxedonly
4totheextentauthorizedandattheratefixedbylawforeachclassandsubclass,andthetax
5shallbebasedontheannualyieldandshallnotexceedeightpercentthereof.Propertyin
6class1shallbesubclassedinthefollowingclassifications:
7 (1)Residentialproperty;
8 (2)Agriculturalandhorticulturalproperty;
9 (3)Utility,industrial,commercial,railroad,andallotherpropertynotincludedin
10subclasses(1)and(2)ofclass1.
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 11
12Propertyinthesubclassesofclass1maybedefinedbylaw,howeversubclasses(1),(2),and
13(3)shallnotbefurtherdivided,provided,landinsubclass(2)maybygenerallawbeassessed
14fortaxpurposesonitsproductivecapability.Thesamepercentageofvalueshallbeapplied
15toallpropertieswithinanysubclass.Noclassesorsubclassshallhaveapercentageofitstrue
16valueinmoneyinexcessofthirty-threeandone-thirdpercent.
17 2.(1)Notwithstandingtheprovisionsofsubsection1ofthisSectionandSection
183ofthisArticletothecontrary,beginningJanuary1,2025,forallresidentialreal
19propertywhichthehomeownerhasmaintainedashisorherprimaryresidence,thetrue
20valueofsuchpropertyshallbedeemedtobethesamevaluedeterminedatthemost
21recentpreviousassessmentoftheproperty,orifthepropertyhasbeensoldsinceits
22mostrecentassessment,thetruevalueofsuchpropertyshallbedeemedtobethetotal
23fairmarketvalueofthecompensationreceivedbythesellerforthesaleofsuch
24property.Thetitlecompanyofthepurchaserofanysuchpropertyshallsendtothe
25assessor,assoonasreasonablypracticableafterthepurchase,anotarizedcopyofthe
26salescontractoftheproperty,andsuchdocumentshallbeconsideredaclosedrecord
27understatelaw.
28 (2)Notwithstandingtheprovisionsofsubdivision(1)ofthissubsectiontothe
29contrary,inanewassessmentorreassessmentofresidentialrealproperty,theassessed
30valuationofsuchpropertymaybeincreasedfromtheassessedvaluationofsuch
31propertydeterminedatitsmostrecentpreviousassessmentbutonlytotheextentthat
32suchanincrease:
33 (a)Incorporatesthechangeintheconsumerpriceindexsincethemostrecent
34previousassessmentoruptoatwopercentannualincreaseintheassessedvaluationof
35theproperty,whicheverisless;or
36 (b)Reflectsthevalueaddedtothepropertyasaresultofnewconstructionor
37improvementsmadetotheproperty.
38 a.Suchvalueshallbetheactualcostofthematerialspurchasedfor
39improvements.
40 b.Documentationofactualcostsshallbesenttotheassessorassoonas
41reasonablypracticableafterthecompletionofthenewconstructionorimprovements.
42 c.Suchdocumentationofcostsorotherdocumentsshallnotbemadeavailable
43toanyentityandshallbeusedonlybytheassessorforthesolepurposeofestablishing
44thetruevalueoftheproperty.
45 (3)(a)Theprovisionsofsubdivision(2)ofthissubsectionshallnotapplytoan
46age-qualifiedtaxpayer,subjecttotheprovisionsofthissubsection.Anage-qualified
47taxpayershall,beginninginthecalendaryearinwhichthetaxpayerreachessixty-five
HCSHJRs33&45 2 48yearsofage,beexemptedfromanyincreasesbythestate,acounty,oranyother
49politicalsubdivisionintheassessedvaluationofanyresidentialrealpropertyprovided
50suchpropertyisactuallyusedandoccupiedbytheage-qualifiedtaxpayerasaprimary
51residence.
52 (b)Ataxpayerwhowillreachsixty-fiveyearsofageduringataxyearshallbe
53exemptfromanyassessedvaluationincreasesforthattaxyear,andtheassessed
54valuationoftheage-qualifiedtaxpayer'sresidentialrealpropertyshallbebasedonthe
55mostrecentassessedvaluationforthetaxyearimmediatelyprecedingtheyearinwhich
56theage-qualifiedtaxpayerbecameeligiblefortheexemptionfromassessedvaluation
57increasesunderthissubdivision.
58 (c)Ifanage-qualifiedtaxpayerrelocatestoadifferentresidentialrealproperty,
59oncetheage-qualifiedtaxpayermeetsallrequirementstoestablishthatresidenceasthe
60age-qualifiedtaxpayer'sprimaryresidence,thenewassessedvaluationshallbebasedon
61themostrecentassessedvaluationofthenewprimaryresidencebeforethetaxyearthat
62theage-qualifiedtaxpayerbecameeligibleagainfortheexemption.
63 (d)Forthepurposesofthissubdivision,an"age-qualifiedtaxpayer"isdefined
64asanindividualwhoissixty-fiveyearsofageorolder,liableforthepaymentofreal
65propertytaxesontheresidentialrealproperty,andanownerofrecordoftheproperty
66orhasalegalorequitableinterestinthepropertyasevidencedbyawritteninstrument.
67 (4)Theprovisionsofthissubsectionshallnotaffecttheabilityofanycounty
68assessortodecreasetheassessedvalueofanyresidentialrealproperty.
âś”
HCSHJRs33&45 3