Modifies provisions governing property taxes

HB 2668 replaces 43 existing Missouri property tax statutes with new provisions primarily governing how cities and counties can establish neighborhood improvement districts. These districts allow local governments to finance public improvements (like parks or roads) through voter-approved bonds and property assessments, requiring at least 50%+1 voter approval for creation. The bill sets limits: total project costs assessed on property cannot exceed initial estimates by more than 25%, and annual maintenance assessments must stay within 25% of projected costs. This directly affects property owners in districts where such improvements are approved and local governments creating these districts.