MO HJR60

Submits a constitutional amendment to Missouri voters at the November 2010 general election repealing and replacing section 6, article X of the Missouri Constitution regarding property taxation.

Expands the exemption from personal property taxation to include one motor vehicle licensed in Missouri owned by or leased to a Purple Heart medal recipient or such recipient's surviving unwed spouse.

Maintains existing exemptions for state and county property, nonprofit cemeteries, industrial inventories of manufacturers and refiners, and goods held by distributors and retailers.

Establishes a countywide replacement tax on all property in subclass 3 of class 1 to compensate taxing authorities for revenue lost from the personal property exemptions.

Allows county voters to approve a decrease in the replacement tax rate imposed under the amendment through petition or governing body action.