Bill > HB772

This bill modifies the "circuit breaker" tax credit program, which provides property tax relief for certain qualifying residents, primarily seniors, disabled individuals, and veterans. The bill increases several key financial thresholds and credit amounts. Specifically, for calendar years ending on or before December 31, 2025, the bill maintains existing income exemption levels, but starting January 1, 2026, it increases income exemptions (from $2,000 to $2,800 for individuals and from $4,000 to $5,800 for couples). The maximum property tax credit will also increase, rising from $750 in rent or $1,100 in actual property taxes to $1,055 in rent or $1,550 in actual property taxes. Additionally, the bill establishes an annual inflation adjustment mechanism beginning January 1, 2027, which will automatically increase credit amounts based on the Consumer Price Index for the Midwest Region. The bill continues to target low and moderate-income seniors, disabled individuals, and veterans, allowing them to claim a sliding scale tax credit based on their income and property tax burden, with those at lower income levels receiving more substantial credits.

https://house.mo.gov/Bill.aspx?bill=HB772&year=2025&code=R