MO HB683

Allows individuals age 62 or older to defer property taxes on their homestead by filing a claim with the county assessor between January 1 and October 15, with household income less than $32,000.

Deferred taxes accrue interest at 6% per annum and become immediately due upon the taxpayer's death, sale of the property, or if the property ceases to be the taxpayer's homestead.

Requires the property owner to maintain at least 10% equity interest in the home, own or be purchasing the fee simple estate, and provide proof of homestead insurance equal to or exceeding the assessed value.

Establishes a "Senior Property Tax Deferral Revolving Account" funded by repayments of deferred taxes and interest, from which the director of revenue pays county tax collectors the deferred amounts less 2%.

Creates a lien against the tax-deferred property that can be foreclosed to collect unpaid deferred taxes and interest, with priority after mortgages and trust deeds recorded before the deferral begins.