HB 102 -- Homestead Property Tax and Assessed Valuation Limit

Sponsor:  Wildberger

Beginning January 1, 2010, this bill limits the increase in the
assessed value of homestead property owned by a taxpayer 62 years
of age or older who has lived in his or her home for at least
three years to the same percentage as the increase in the federal
Consumer Price Index in each reassessment cycle, excluding any
value for new construction or improvements.  The tax rate imposed
upon the homestead property cannot increase until the eligible
owner moves, sells the property, or fails to notify the assessor
of continued eligibility.  Political subdivisions will be
reimbursed by the state for any revenue losses resulting from the
limitation.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:23 am