Proposes a constitutional amendment relating to real property tax assessments

HJR 4 proposes a constitutional amendment that would change Missouri's property tax assessment rules, primarily affecting residential property owners. It would limit annual increases in the assessed value of residential homes to the lower of either the consumer price index change or a 2% cap (excluding increases from new construction). The amendment also sets a 8% tax cap on "class 3" property (commercial/industrial) and requires all properties within the same subclass to be taxed at the same percentage of value. This amendment requires voter approval in a 2026 election to take effect.