MO SJR111

Proposes a constitutional amendment to be placed on the November 2026 general election ballot (or a special election called by the governor) modifying Article X, Section 22 of the Missouri Constitution regarding property taxation

Requires counties and political subdivisions to reduce property tax levy rates when assessed valuations of real property subclasses increase by any percentage, ensuring gross revenue remains the same as the prior year's assessed value

Removes the previous exception that allowed inflation-adjusted revenue increases when property values grew faster than the general price level, replacing it with stricter revenue-neutral requirements for real property

Permits local governments to adjust the required levy reduction to account for changes in the general price level, as provided by general law

Specifies that total assessed valuation calculations must include all personal property plus the value of new construction and improvements to real property