Under Article 15, Section 11 of the Constitution, for purposes of property taxes, all property is required to be uniformly valued at its full value in three classes: the gross production of minerals and mine products; industrial property; and all other property real and personal. The third class includes residential property, commercial property, agricultural property and personal property.

This amendment to the Constitution would create a fourth class of property by making residential property a separate class from the all other property class.

The Constitution also prohibits the Legislature from creating any subclass within the authorized classes of property. This amendment would allow the Legislature to create a subclass of residential property for owner occupied primary residences.