HB 1367 -- Homestead Preservation Act

Sponsor:  Lembke (85)

This bill authorizes a homestead exemption for purposes of real
property taxation for all taxpayers 65 years of age or older and
for certain persons who are disabled if their Missouri adjusted
gross income does not exceed $100,000 per year indexed for
inflation.

The bill limits any increase in the assessed valuation of any
residence owned by qualified taxpayers to 5% or the increase in
the Consumer Price Index, whichever is greater.  Eligible
taxpayers must file reports with the county assessors to qualify
and pay a fee of $15.

The state will be required to reimburse the losses of any
political subdivision as the result of the homestead exemption.

The bill becomes effective January 1, 2005.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am