MO HJR3

Submits to Missouri voters in the 2014 general election a constitutional amendment repealing and replacing Section 6, Article X of the state constitution regarding property tax exemptions.

Adds exemption from taxation for all personal property of active duty military persons who are Missouri citizens, while stationed outside the United States and the property is not in use.

Maintains existing tax exemptions for state and county property, nonprofit cemeteries, homesteads of disabled former prisoners of war, religious and charitable organizations, and industrial/commercial inventory.

Establishes a countywide replacement tax on property in subclass 3 of class 1 to compensate taxing authorities for revenues lost from exempting manufacturer and retailer inventory from taxation.

Allows county voters to approve a decrease in replacement tax rates by majority vote, and permits governing bodies or petition of at least 8% of qualified voters to submit rate decrease measures to voters.