Bill > SB457

This bill modifies the Senior Citizens Property Tax Relief Credit by updating several key provisions for tax years, especially those beginning on or after January 1, 2026. The bill adjusts income exemption amounts, raising the standard deduction from $2,000 to $5,000, and increases the maximum upper limit for property tax credits from $27,500 to $32,500 for most claimants, and from $30,000 to $40,000 for homeowners who occupy their property for the entire year. The bill clarifies eligibility criteria for claimants, including those who are 60 or older and receive surviving spouse Social Security benefits, disabled individuals, and veterans with 100% service-connected disabilities. It also modifies how property tax credits are calculated, changing the income increment levels from $300 to $495 and adjusting the percentage calculations for credit determination. The bill removes a previous restriction that prevented claimants from receiving the credit if they filed a claim under a different property tax relief section. Additionally, the legislation requires the Department of Revenue to help identify and notify potentially eligible taxpayers who have not already applied for the credit, ensuring more seniors can benefit from this property tax relief program.

Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=22514