HB 229 -- HOMESTEAD PROPERTY TAX EXEMPTION

SPONSOR:  Portwood

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Senior Citizen Advocacy by a vote of 10 to 0.

This bill changes the application procedures for the Missouri
Homestead Preservation Act for the elderly and disabled.  The
percentage limit for applications filed in 2005 and 2006 is based
on the increase to tax liability from 2004 to 2005; and the limit
for applications filed after 2006 is based on the increase to tax
liability from the two years prior to the application to the year
immediately prior to the application.  The county assessors must
provide a list to the Department of Revenue of verified eligible
homeowners who made improvements to their homesteads and the
dollar amount of the assessed value of the improvements by
January 15 each year.

FISCAL NOTE:  No impact on state funds in FY 2006, FY 2007, and
FY 2008.

PROPONENTS:  Supporters say that legislation is needed to
simplify the Homestead Preservation Act and to eliminate the
undue burden placed on taxpayers.  The bill will allow taxpayers
several options in completing the application other than going to
the county assessor's office.

Testifying for the bill were Representative Portwood; and
Department of Revenue.

OPPONENTS:  There was no opposition voiced to the committee.

Dominic Lackey, Legislative Analyst

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:18 pm