Bill > HB1430

This bill modifies the Senior Citizen Property Tax Relief Credit (also known as the "circuit breaker" tax credit) by expanding eligibility criteria and increasing financial benefits for senior citizens, disabled veterans, and other qualifying individuals. The key provisions include: expanding the definition of disabled individuals to include those receiving Department of Veterans Affairs benefits, allowing people who are 60 years old and receiving surviving spouse Social Security benefits to qualify, increasing income exemptions (from $2,000 to $4,000 currently, and to $20,000 starting in 2026), and raising the maximum property tax credit limits. For calendar years beginning in 2026, the bill increases the maximum property tax credit from $1,100 to $1,500, and for disabled veterans, removes the upper limit entirely. The bill also introduces an annual inflation adjustment for income limits and tax credit amounts starting in 2027. Additionally, the bill simplifies the credit calculation by eliminating some complex percentage-based reductions and providing more straightforward eligibility for seniors and disabled veterans. The primary goal is to provide more substantial property tax relief for seniors, disabled veterans, and low-income individuals in Missouri.

https://house.mo.gov/Bill.aspx?bill=HB1430&year=2025&code=R