Modifies provisions relating to property taxes

SB 9 creates a new property tax credit program for Missouri homestead owners. Eligible residents (owners of their primary home who pay property taxes) can receive a credit equal to the difference between their current tax bill and their "initial credit year" tax bill (with a 5% annual cap on increases). Counties must either pass an ordinance or hold a voter referendum (requiring 5% of registered voters to petition) to implement the credit, which applies directly to the taxpayer's property tax statement. The credit does not change state tax rates but allows local counties to offset increases for qualifying homeowners.