HB 2069 -- Property Tax Exemption for the Elderly

Sponsor:  Bivins

This bill authorizes a property tax exemption on any residential
property owned by an eligible taxpayer 65 years of age or older
who has paid property taxes on the property for at least three
years.  An eligible homestead includes any Missouri dwelling that
is the primary resident of the taxpayer and can include up to
five acres of land, be part of a multi-dwelling or a
multi-purpose building, or a mobile home.  The amount of the
assessed valuation of the eligible homestead that will be exempt
is up to the first $5,000 for 2007; $10,000 for 2008; $15,000 for
2009; $20,000 for 2010; and $25,000 for 2011 and all subsequent
years.

A taxpayer must apply between April 1 and September 30 to be
eligible for the exemption the following calendar year.  Any
revenue losses of political subdivisions, as determined by the
State Auditor, will be reimbursed by the state.

The provisions of the bill will expire six years from the
effective date.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:45 am