HB 26 -- Property Tax:  Assessment Freeze

Sponsor:  Green

This bill authorizes a homestead exemption for purposes of real
property taxation for all taxpayers 65 years of age or older and
for certain persons who are disabled.

The bill freezes the assessed valuation on any residence owned by
qualified taxpayers if the residence has been assessed and
property taxes have been paid for three or more of the previous
years.

The state will be required to reimburse the losses of any
political subdivision as the result of the homestead exemption
through appropriation based on regulations established by the
State Auditor.

The bill has an effective date of January 1, 2004.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:10 am