Modifies provisions governing the taxation of property

Summary

The measure adds new sections to Missouri law that define terms such as tax rate ceiling and tax revenue, and it requires assessors and county clerks to notify local governments of any change in property valuations. Those political subdivisions must then revise their property tax rates to keep revenue roughly the same, while staying within voter‑approved limits or inflation caps. Any tax change placed on a ballot must be expressed in dollars per $100,000 of market value.

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