Bill > HB2306

This bill, known as the "Missouri Disabled Veterans Homestead Exemption," establishes an annual exemption from property taxes for qualified disabled veterans and their surviving spouses on their primary residence, or "homestead," which includes up to five acres of surrounding land and cannot be used for commercial purposes. The exemption amount is based on the veteran's disability rating, as certified by the U.S. Department of Veterans Affairs, with higher disability ratings receiving larger exemptions, ranging from up to $150,000 for veterans with a 50-69% disability rating, up to $250,000 for those with a 70-99% rating, and up to $500,000 for those with a 100% disability rating. This exemption, which takes effect for tax years beginning on or after January 1, 2027, also extends to a surviving spouse as long as they own and reside in the qualified residence, and continues even if the veteran moves to a licensed facility or a veterans' home, provided the spouse continues to occupy the residence or it remains unoccupied but owned by the qualifying veteran. To claim the exemption, disabled veterans or surviving spouses must apply annually by April 1st, providing documentation of their disability rating, proof of ownership, and occupation of the residence, with local tax authorities responsible for verifying eligibility according to guidelines set by the state tax commission.