HB 966 -- Property Tax Relief

Sponsor:  Portwood

This bill changes the laws regarding the Missouri Homestead
Preservation Act.  The taxes generated from the assessed value of
residential property will not increase for any person who has
owned and occupied the homestead for at least five years.  Any
property increased in value by construction, improvement, or sale
of the property excludes the taxpayer from receiving this
benefit.  Currently, senior citizens and disabled persons can
obtain a credit against their property taxes for an increase to
their taxes.

A political subdivision sustaining a decrease in revenue can
adjust any rates of levy to compensate for the loss.  The State
Auditor will calculate or verify the revenue loss for each
political subdivision and require the county clerk to have a copy
available to the public for at least three years.

The provisions of the bill will expire six years from the
effective date.

The bill will become effective January 1, 2006.

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:21 pm