Proposes a constitutional amendment relating to residential real property tax assessments

HJR 86 proposes a constitutional amendment to limit annual increases in residential property tax assessments in Missouri starting January 1, 2027. It would cap the yearly increase in a home's taxable value at 8% (unless the home sold recently or had major renovations adding 25%+ square footage), applying specifically to residential properties in Class 1. The amendment requires all residential properties within the same subclass to be taxed at the same percentage of their value, preventing higher rates for specific homes within that category. This change directly affects Missouri homeowners by restricting how much their property taxes can rise annually, though counties can still lower assessments.