Housing (Property Taxes)

HJR 126 proposes a constitutional amendment that would reduce property tax assessments for qualifying seniors and disabled homeowners by 50%. It applies to residential property owned by individuals aged 65+ or permanently disabled under federal/state law, with income under $50,000 (single) or $75,000 (married filing jointly) in the prior tax year. Starting January 1, 2027, such properties would be assessed at 50% of their standard value instead of full value. This amendment requires voter approval in the 2026 election to take effect.

This bill proposes a constitutional amendment to provide a property tax exemption for disabled veterans in Missouri. It would exempt the homestead property (primary residence) of disabled veterans certified by the VA for 100% service-connected disability, as well as their surviving spouses who continue living in that home. The exemption covers real property used as a homestead but does not apply if the surviving spouse sells the home or stops using it as their primary residence. To offset lost tax revenue, counties would impose a replacement tax on certain business inventory property within the county.

This constitutional amendment resolution proposes to create a real property tax exemption for Missouri seniors meeting specific criteria. It would allow residents aged 65+ who have lived in Missouri for 10 consecutive years to qualify for a tax exemption on their primary home if their income is $100,000 or less (single) or $150,000 or less (married). Surviving spouses aged 55+ who maintain the same residence may also qualify. The General Assembly would set verification rules, exemption caps, and income limits to manage costs, with potential revenue offsets through state grants or adjusted local tax rates.

The bill SB 834, titled "Establishes the Uniform Mortgage Modification Act," aims to create standardized procedures for modifying residential mortgage loans. It would directly affect homeowners facing financial hardship and lenders handling mortgage modifications. The bill's key mechanism would establish consistent state-wide rules for mortgage modification programs, including eligibility criteria, required documentation, and timelines for processing requests. However, no specific provisions or details about the act's content are provided in the available abstract or summary. As the bill is currently in early committee stages (prefiled, with a hearing scheduled), concrete policy changes remain undefined in the public context provided.