April ballot proposal would limit Property tax increases in Buchanan County

ST. JOSEPH, Mo. (KQTV)-- Voters in Buchanan County will decide this April on a proposal that would limit how much property taxes on their homes can increase over time.

This proposal would apply to all homeowners who own the home and live in the residence.

Ron Hook, Buchanan County Western District Commissioner, said the Homestead property tax credit is a credit to people's real estate taxes.

"The homestead is the definition of where that person resides and where they live," he said. "If they have multiple residences, they have to determine which one is theirs that they live in, which will be what the tax credit will apply to if they apply for it."

Hook said this is different from the Senior Citizen Homestead Program.

"The senior one set is for individuals 62 or older who apply for it. This is for anybody and everybody who owns their own residence," he said.

The proposal would not affect first-time home buyers, as it would be the first year of actually having a credit if the measure is passed.

The proposal won't be implemented until 2027, but the Missouri statute requires counties to put it on the ballot no later than April 2026. The year will serve as the base for calculating the initial credit.

If the proposal passes, the amount owed on property taxes will increase under this plan, but the increase would be capped at the greater of 5% or the Consumer Price Index.