HB 625 -- Limitation on Personal and Real Property Tax Increases

Sponsor:  Parkinson

Beginning January 1, 2010, this bill freezes the tax rate and the
assessed valuation of all tangible personal property and
residential property for taxpayers 65 years of age or older with
a total household income of up to $100,000, who own and have
lived in their principal residence for at least 10 years until
the owner moves, sells the property, or fails to notify the
assessor of continued eligibility.  The eligible homeowner's
amount of tax due for personal and real property cannot increase
at a rate greater than the percentage of increase in the federal
Consumer Price Index.  The state will reimburse the political
subdivisions based on the State Auditor's determination of lost
revenue from the limitation on assessed valuation.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am