HJR 40 -- Property Tax Assessment Limit

Sponsor:  Nieves

Upon voter approval, this proposed constitutional amendment
limits increases in assessed valuation of real property caused by
reassessment to the percentage of increase in the federal
Consumer Price Index for the Midwest Region or 2%, whichever is
lower, until a transfer of ownership occurs.  Once a transfer
occurs, the assessed value of the property will be determined
based upon a reassessment of the property's value for the year
the transfer occurs.  The General Assembly is allowed by law to
specify what will constitute a transfer of title.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am