HB1298 Freeze, for property tax purposes, assessed valuations of homesteads owned by persons eighty years of age and older.
Sponsor: Hanaway, Catherine L (87) Effective Date:01/01/2002
CoSponsor: LR Number: 2720L.01I
Last Action: COMMITTEE: WAYS AND MEANS
02/01/2000 - Public Hearing Held (H)
HB1298
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
ACTIONS HEARINGS CALENDAR
BILL SUMMARIES BILL TEXT
BILL SEARCH HOUSE HOME PAGE

Available Bill Summaries for HB1298 Copyright(c)
* Introduced

Available Bill Text for HB1298
****** NO BILL TEXT AVAILABLE AT THIS TIME ******

BILL SUMMARIES

INTRODUCED

HB 1298 -- Property Tax:  Homestead Exemption

Sponsor:  Hanaway

This bill authorizes a homestead exemption for purposes of real
property taxation for taxpayers who are 80 years old or older.
The homestead exemption amount will be any future increases in
assessed valuation on the homestead from the year the taxpayer
reaches the age of 80 or the effective date of the bill,
whichever is later.

The qualified taxpayer must file an application with the county
clerk by June 1 of the year preceding the year for the
exemption. Once the exemption is granted, the taxpayer need file
no further application to qualify.  The state will be required
to reimburse the losses of any political subdivision as the
result of the homestead exemption through a voucher system
administered by the State Tax Commission and the Office of
Administration, subject to appropriation.

The bill will become effective January 1, 2002.


redbar

Missouri House of Representatives' Home Page
Last Updated October 5, 2000 at 11:32 am