Bill > HB1336

This bill modifies the local homestead property tax credit for seniors aged 62 and older in Missouri counties. The bill defines key terms such as "eligible credit amount" (the difference between a senior's current property tax liability and their initial credit year tax liability), "eligible taxpayer" (a Missouri resident 62 or older who owns or has a legal interest in a primary residence), and "homestead" (the primary residence). Counties can grant this property tax credit through either a county ordinance or a voter referendum, where at least 5% of registered voters must sign a petition to trigger a vote. If approved, the credit will reduce the eligible taxpayer's property tax liability based on the tax amount in their initial credit year. The bill includes provisions for how the credit is calculated and applied, such as adjusting the initial credit year tax liability for new construction or annexation. Importantly, the bill clarifies that taxpayers are still required to pay taxes for the state blind pension fund and any voter-approved bond indebtedness. Counties granting the credit must notify other political subdivisions of the total credit amount by November 30th each year, and the credit will be considered tax revenue for calculation purposes.

https://house.mo.gov/Bill.aspx?bill=HB1336&year=2025&code=R