Missouri House passes bill aimed at preventing rising property tax rates
JEFFERSON CITY, Mo. – The Missouri House of Representatives has taken a significant step towards addressing concerns over rising property taxes with the passage of HJR 78. The bill, sponsored by State Representative Jeff Coleman, proposes a Constitutional amendment aimed at providing relief to homeowners burdened by escalating property tax rates.
HJR 78, which received strong support in the House, seeks to freeze the assessed value of residential properties maintained as primary residences at their most recent assessment value, starting January 1, 2025. This measure aims to alleviate the financial strain on homeowners, particularly seniors, who face the risk of losing their homes due to soaring property taxes.
The passage of HJR 78 comes in response to the escalating issue of soaring property assessments in Jackson County, which has sparked widespread discontent among citizens grappling with unexpectedly high property valuations. Recent data highlights that property assessments in Jackson County have resulted in increased assessed valuations for approximately 238,000 residential parcels, totaling over $2.6 billion. Consequently, thousands of residents have lodged appeals seeking adjustments to their property valuations.
“This legislation is a crucial step towards ensuring fairness and stability for homeowners across our state,” Coleman, R-Grain Valley, said. “Our citizens in Jackson County have been asking for answers to stop these outrageous tax assessments, and by freezing property assessments and implementing reasonable limits on increases, we are providing much-needed relief to hardworking Missourians struggling to keep up with rising taxes.”
“Inflation is a hidden tax that effects every facet of our economy, including the housing market and home valuations. Since 2020, home prices have exceeded the pace of Biden’s inflation by over 200%. The House majority will not stand idly by while certain counties try to tax folks out of their homes,” House Speaker Dean Plocher, R-Des Peres, said. “HJR 78 reflects our commitment to supporting homeowners and safeguarding their property rights while ensuring that our tax system in the Show-Me State is transparent.”
The passage of HJR 78 in the Missouri House of Representatives marks a significant milestone in the effort to provide relief to homeowners grappling with the burden of escalating property taxes. The bill will now move to the Missouri Senate for further consideration.