HB 1735 -- Property Tax Deferral for Senior Citizens

Sponsor:  Morris

This bill allows qualified individuals to defer payment of the
current real property tax assessed on real estate owned and
occupied as the principal residence of the individual until the
property is sold, transferred, or otherwise disposed of.  The
total amount of the taxes deferred plus 10% interest would be due
when the individual disposes of the property.  If the individual
ceases to occupy the residence, the deferred taxes would become
due and payable on January 1 of the following year.

To qualify, an individual must be 65 or older and meet certain
income requirements.  The federal adjusted gross income of the
individual must be $50,000 or less if the filing status is
single, head of household, qualified widow, or widower with
dependent child.  If the filing status is married filing jointly,
the federal adjusted gross income must be more than $50,000 but
less than $75,000.

The bill will become effective January 1, 2005.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am