Holden Signs Property Tax Increase Cap
St. Louis, MO – Governor Bob Holden signed legislation into law Monday meant to protect the elderly and disabled in Missouri from sharp property tax hikes.
The new law only lets the taxes go up at most 5% in years when there are property reassessments. The cap will be 2.5% in years when there are no assessments.
Holden also signed a measure that requires insurance companies to treat coverage of mental health the same as they do physical health. Mental health coverage is required to be included in all group insurance plans, even the most basic, beginning next January.