MO SB1293

Requires ballot measures seeking to add, change, or modify real property taxes to express the proposed change in terms of real dollars owed per $100,000 of a property's market valuation

Mandates that political subdivisions revise tax rates separately for each subclass of real property (residential, agricultural, commercial) and personal property to produce substantially the same revenue as the previous year when assessed valuations change

Requires all tax levy increases approved by voters to be applied equally to each subclass of real and personal property

Caps motor vehicle assessments for vehicles valued under $50,000 (as of January 1, 2025) at the previous year's assessment amount, provided the vehicle was properly assessed

Removes the county opt-out provision that allowed counties to avoid using separate tax rates for different property subclasses, making the multi-rate system mandatory statewide