MO HB3125

Exempts homesteads owned by individuals age 65 or older from real property taxes, effective for tax years beginning on or after January 1, 2027

Eligible owners must be 65 by January 1st of the exemption year, own or have legal/equitable interest in the property, and be liable for property taxes on the residence

Homestead defined as primary residence and adjacent property reasonably necessary for use as a home dwelling

Exemption is non-transferable and disqualifies recipients from other property tax relief programs or tax credits under chapters 135 and 137

State required to reimburse political subdivisions for lost revenue resulting from the exemption, as provided under Article X, Section 6(a) of the Missouri Constitution