SPONSOR: Schmidt
This bill establishes the "Missouri Disabled Veteran Homestead Tax Credit Act".
Beginning January 1, 2027, if adopted by county order, ordinance, or resolution, a county can grant an annual real property tax credit for the primary residence of a disabled veteran that has a market value not to exceed $500,000.
The tax credit can only be used for the primary residence and up to five acres. However, if the total market value of the dwelling and surrounding acreage does not exceed $500,000, ownership of additional acreage will not disqualify an owner from eligibility for the tax credit.
The county may grant a tax credit for any percentage of the qualified amount that does not exceed 100% of the disabled veteran’s property tax liability. Before January of any year, the governing body of a county may adjust this tax credit percentage for the next general reassessment year by ordinance.
If the qualifying disabled veteran passes, this real property tax credit must carry over to the benefit of the surviving spouse, as long as certain conditions are met.
This real property tax credit must not reduce assessed valuations and must not be construed as an exemption.
If an eligible owner receives this real property tax credit, he or she must no longer be eligible for any other real property tax relief or tax credit relating to the owner’s qualifying residence.
For the purpose of calculating property tax levies, the total amount of these real property tax credits must be considered tax revenue actually received by the county or other political subdivision.
This bill is similar to HB 2869 and HB 2588 (2026).
Statutes affected: