HB 785 -- Homestead Property Tax Relief

Sponsor:  Frame

This bill exempts the residential property of an individual 62
years of age or older who has owned and paid property taxes on
his or her homestead for at least three years from increases in
assessed valuation that are not from new construction or
improvements and from tax rate increases until the owner moves,
sells the homestead property, or fails to notify the county
assessor of his or her continued eligibility.  Any revenue losses
to political subdivisions, as determined by the State Auditor,
will be reimbursed by the state.

The bill becomes effective January 1, 2010.

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