HB 1870 -- Property Tax:  Homestead Exemption

Sponsor:  Hendrickson

This bill creates the Missouri Homestead Preservation Act.  The
act limits the increase of the assessed value of any real
property owned by a taxpayer who is 65 years of age or older to
the increase in the Consumer Price Index.  The property must be
used as a homestead and the limitation does not include
improvements or new construction.

The bill will become effective January 1, 2001.