HB 1370 -- Homestead Property Relief for the Elderly

Sponsor:  Kraus

Beginning January 1, 2009, this bill exempts the residential
property of an individual 65 years of age or older whose total
household federal adjusted gross income is less than 200% of the
federal poverty level from increases in assessed valuation that
are not from new construction or improvements.  The property will
also be exempt from tax rate increases until the owner moves,
sells the homestead property, or fails to notify the county
assessor of his or her continued eligibility.  Any revenue losses
of political subdivisions, as determined by the State Auditor,
will be reimbursed by the state.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:10 pm