HOUSE BILL NO. 3125 103RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE SELF.
6009H.01I JOSEPH ENGLER, Chief Clerk
AN ACT To amend chapter 137, RSMo, by adding thereto one new section relating to real property tax exemptions.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 137, RSMo, is amended by adding thereto one new section, to be 2 known as section 137.1062, to read as follows: 137.1062. 1. As used in this section, the following terms mean: 2 (1) "Eligible owner", an individual who: 3 (a) Has reached sixty-five years of age as of January first of the year for which 4 an exemption is granted under this section; 5 (b) Is the owner of record of the residential real property used as a homestead or 6 has a legal or equitable interest in the residential real property used as a homestead as 7 evidenced by a written instrument; and 8 (c) Is liable for the payment of real property taxes on the residential real 9 property used as a homestead; 10 (2) "Homestead", the residential real property that is used as a primary 11 residence and the adjacent real property as is reasonably necessary for use of the 12 residence as a home dwelling. 13 2. In addition to all other exemptions authorized under Article X, Section 6 of 14 the Constitution of Missouri or otherwise authorized by law, and as authorized under 15 Article X, Section 6(a) of the Constitution of Missouri, for all tax years beginning on or 16 after January 1, 2027, a homestead owned by an eligible owner shall be exempt from the 17 real property tax assessed on such homestead.
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HB 3125 2
18 3. (1) An exemption granted under this section shall not be transferred or 19 assigned. 20 (2) An eligible owner who receives an exemption granted under this section shall 21 not be eligible for any other real property tax relief, the property tax credits under 22 sections 135.010 to 135.035, or any other tax credits relating to the eligible owner's 23 homestead under this chapter or chapter 135. 24 (3) An exemption granted under this section shall not affect the process of setting 25 the tax rate as required under Article X, Section 22 of the Constitution of Missouri and 26 section 137.073 in any prior, current, or subsequent tax year. 27 4. As provided in Article X, Section 6(a) of the Constitution of Missouri, the state 28 shall reimburse any political subdivision for revenues lost by reason of the exemption 29 provided in this section. 30 5. This section shall not be subject to the provisions of the Missouri sunset act 31 under sections 23.250 to 23.298. ✔
Statutes affected: