Modifies a property tax credit for certain seniors

This bill modifies Missouri's property tax credit program to help senior citizens aged 62 and older who own and live in their primary residence. It allows counties to offer a credit that offsets increases in property tax bills by comparing current tax liabilities to the amount owed in the year the taxpayer first became eligible. Counties can implement this credit through a local ordinance or a voter referendum, and the credit amount is calculated based on the difference between current taxes and the initial tax liability, with adjustments for new construction or annexations. The legislation also clarifies how these credits are treated for state tax levy calculations and requires counties to notify local political subdivisions of the total credit amounts issued each year.