MO HB1313

Caps annual assessment increases for principal residences owned by seniors (65+) or disabled persons to match the percentage increase in their Social Security benefits, effective for assessments after December 31, 2012.

Applies only to qualified taxpayers with federal adjusted gross income not exceeding $72,380 (adjusted annually for inflation) who own and occupy their principal residence.

Exempts improvements made solely for accessibility for individuals with physical disabilities from the assessment increase limitation.

Resets the assessment valuation to normal rates under standard assessment rules when the property is conveyed to a new owner who is not a qualified taxpayer.

Includes sunset provisions requiring reauthorization by the General Assembly after 6 years, with an additional 6-year period possible if reauthorized.