JEFFERSON CITY — Legislation sponsored by State Sen. Tony Luetkemeyer, R-Parkville, to limit the growth of property tax assessments has been approved by the Ways and Means Committee and will be sent onto the full Senate for its consideration. The reforms are in response to unusually high assessment increases in 2019. In some jurisdictions, taxpayers saw the assessed value of their properties more than double.
Senate Bill 675 caps the growth of property tax assessments to 5 percent above a property’s previous assessment. Senate Bill 676 ensures that taxpayers will have sufficient time to appeal assessment increases.
“These two bills will ensure that taxpayers never again see the runaway spikes in property assessments that many property owners experienced in 2019,” Sen. Luetkemeyer said. “Modest increases are to be expected as property values rise, but no Missourian should see their tax bill double or triple in a single year.”
The two measures, along with a related constitutional amendment that will require approval of voters, will be placed on the Senate’s perfection calendar and are expected to be brought up for debate in the coming weeks.
For more information about Sen. Luetkemeyer, visit www.senate.mo.gov/mem34.