Missouri Senate backs limits on property tax increases
JEFFERSON CITY, Mo. (AP) — Some Missouri homeowners could be spared from paying higher property taxes under a pair of proposed constitutional amendments approved Wednesday by the state Senate.
One proposal would authorize laws limiting the amount by which property values could be increased when being reassessed.
Another proposal would allow counties to adopt ordinances exempting people age 65 and older from increases in assessments used to figure their residential property taxes, beginning in 2023. That measure also would allow counties to tailor their property tax breaks only for seniors with certain income levels.
While setting broad parameters for property tax breaks, the measures leave the specific details to be filled in by state or local officials.
Both measures now advance to the House. If approved there, they would go before voters in a statewide election later this year.
To report a correction or typo, please email email@example.com
Copyright 2022 KY3. All rights reserved.