Authorizes counties and other political subdivisions to grant real property tax credits to eligible taxpayers with homesteads

This bill authorizes Missouri counties and other local political subdivisions to offer real property tax credits to eligible homeowners. To qualify, a taxpayer must be a resident of Missouri, own or have an interest in a primary residence, and receive Social Security retirement benefits. Local governments would determine the specific amount of the credit by comparing a homeowner's current tax bill to the amount they paid when they first became eligible. The legislation requires that these credits be approved through local ordinances or voter referendums, depending on whether the entity is a county or another type of political subdivision. Counties and other subdivisions must apply the credit against current tax liabilities for the year in which the credit is authorized.