MO HJR148

Proposes a constitutional amendment to be placed on the November 2026 general election ballot or a special election, amending Article X of the Missouri Constitution regarding real property taxation

Sets the operating levy for school districts with 1995 federal court-ordered levies at $4.9599 per $100 assessed valuation beginning January 1, 2027, with standard levy adjustments applying starting January 1, 2028

Expires the existing provision allowing certain school boards to set operating levies below court-ordered rates on December 31, 2026

Requires counties and political subdivisions to reduce maximum authorized tax levies when assessed valuation of any real property subclass increases by any percentage, ensuring gross revenue from existing property remains the same as the prior year

Allows political subdivisions to adjust the required levy reduction to account for changes in the general price level as provided by state law