reSee.it Video Transcript AI Summary
"Representative Ben Keithley here where I'm in the capital for our special session on redistricting IP reform. I just filed HJR five."
"HAR five will ensure property tax relief for all Missourians in two major ways."
"Number one, it eliminates all personal property taxes in Missouri."
"No more taxes on your vehicles, personal property items, local level."
"After eliminating personal property taxes, the next step is going to be holistic change to how we calculate real estate assessments and taxes in Missouri."
"We will replace our current subjective valuation system with an objective system that's based on square footage, age of buildings, and tier out all our properties."
"We'll put a 5% cap on everything and that will ultimately result in a fair, more transparent and more objective standard that Missourians can have faith and confidence in and not get screwed over in the process."
"The 5% cap will apply every four years, which means for the next four years at a time, your property tax rate will be frozen in and banked in and when it goes up at the next reassessment, if it goes up, it can not be by more than 5% total."
"Hancock Amendment had a 5% cap, but the local governments have created so many loopholes and so many ways around it that you know your property taxes have gone up."
"Lastly, what the property tax reform bill will do in HJR five is create a fair system that's focused on Missouri families."
"All Missourians, not just seniors, not just low income Missourians, but all Missourians."
"And make sure that when property tax abatement happens, TIF districts, CIDs, that that foregone property tax revenue is not put on the backs of Missouri families and homeowners going forward to make up the shortfalls that government creates by doling out corporate welfare."
"No, this will create a system that Missourians know works for them and doesn't result in unplanned, ridiculous tax hikes over and over again."
"HJR5, looking forward to getting this worked on and continuing the conversations we've been having on property taxes, and we're going to deliver meaningful relief for all Missourians."