MO HB2091

Freezes assessed value of homestead property for owners aged 62 and older who have continuously occupied the property as their principal residence for at least three years, excluding value from new construction or improvements.

Applies to all tax years beginning January 1, 2011, with homestead beneficiary status and residency determined as of January 1 of each odd-numbered year.

Prohibits tax rate increases on eligible homestead property until the owner moves, sells the property, or fails to notify the county assessor of continued eligibility.

Requires the state of Missouri to reimburse all revenue losses to political subdivisions resulting from the assessed value freeze through appropriations, with data submission requirements to the state auditor.

Grants taxpayers legal standing to bring civil action against taxing jurisdictions for non-compliance with the reimbursement requirements.