Missouri homes would face limits on combined property taxes

Combined property tax levies on residential property would be limited to 7% or 6% of assessed value, depending on location. The 7% limit would apply within an incorporated city, town, or village. The 6% limit would apply outside those boundaries, and within a city, town, or village that has no municipal tax levy. The limits would not allow a taxing authority to exceed limits in the Missouri Constitution.

The local official responsible for property tax revenues would proportionally reduce each levy if the combined total exceeded the applicable limit. This would apply to residential property where combined levies exceeded the applicable 6% or 7% limit. The official would reduce each levy in proportion until the combined total met the applicable limit.