Authorizes the" Missouri Homestead Preservation Act"

HB 2766 creates the Missouri Homestead Preservation Act to provide property tax relief for eligible homeowners whose tax bills have increased significantly. The bill defines eligibility for individuals aged 65 or older, disabled persons, and certain married couples or joint owners who meet specific income limits and have paid their property taxes on time. To receive a credit, applicants must submit an annual form between April 1 and October 15, attesting under penalty of perjury that their property has not been improved by more than 2.5% of its assessed value. The Department of Revenue will verify the applicant's age, income, and property details to calculate and apply a credit that offsets the portion of the tax increase exceeding a set threshold. This legislation directly affects homeowners in Missouri who are seniors or disabled and are facing rising property tax liabilities.