SB 9 - This act modifies provisions relating to property taxes. PROPERTY TAX CREDIT This act authorizes Jackson County to grant a property tax credit to eligible taxpayers residing in such county, provided such county has adopted an ordinance authorizing such credit, or a petition in support of such credit is delivered to the governing body of the county and is subsequently submitted to and approved by the voters, as described in the act. Eligible taxpayers are defined as residents who: 1) are the owner of record of or have a legal or equitable interest in a homestead; and 2) are liable for the payment of real property taxes on such homestead. The amount of the property tax credit shall be equal to the difference between the real property tax liability on the homestead in a given year minus the real property tax liability on such homestead in the year in which the taxpayer became an eligible taxpayer, provided that the real property tax liability on an eligible taxpayer's homestead as determined in the taxpayer's initial credit year may be increased by no more than five percent during a reassessment year. A credit granted pursuant to this act shall be applied when calculating the eligible taxpayer's property tax liability for the tax year. The amount of the credit shall be noted on the statement of tax due sent to the eligible taxpayer by the county collector. The amount of property tax credits authorized by a county pursuant to this act shall be considered tax revenue actually received by the county for the purposes of calculating property tax levies. (Section 137.1100) This provision is identical to SS/SCS/SB 87 (2025) and similar to SS/SCS/HB 999(2025). STATE TAX COMMISSION RATIO STUDIES Current law requires the State Tax Commission to equalize the valuation of each class and subclass of property among the respective counties. This act requires the Commission to utilize ratio studies to determine whether a class or subclass is valued below or above its true value, as described in the act. (Section 138.390) JOSH NORBERG