HB 2573 -- Limitation on Personal and Real Property Tax Increases

Sponsor:  Parkinson

Beginning January 1, 2009, this bill freezes the assessed
valuation of all tangible personal property and residential
property for taxpayers 65 years of age or older with a total
household income of up to $50,000, who own and have lived in
their principal residence for at least 10 years until the owner
moves, sells the property, or fails to notify the assessor of
continued eligibility.  The eligible homeowners' amount of tax
due for personal and real property tax cannot exceed the
percentage of increase in the federal Consumer Price Index.  The
state will reimburse the political subdivisions based on the
State Auditor's determination of lost revenue from the limitation
on assessed valuation.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm