MO SJR98

Proposes a constitutional amendment to be voted on in November 2026 that would prohibit counties and political subdivisions from levying ad valorem property taxes on Class 1 property (real property) beginning January 1, 2027

Replaces annual property taxes with a one-time sales tax on real property sales, calculated at the combined state and local sales tax rate for the property's location, collected at the time of title transfer

Offers taxpayers four payment options for the sales tax: pay in full at closing, or pay 10% at closing with the remainder due in equal annual installments over 5, 10, or 15 years

For properties owned before January 1, 2027, imposes a transition tax based on the remaining mortgage balance multiplied by the applicable sales tax rate, with payment options ranging from full payment by December 31, 2027, to installments through December 31, 2042

Prohibits expansion of state and local sales taxes to services or transactions not taxed as of January 1, 2015, with an exception for the new real property sales tax