HB2306 establishes a homestead exemption for disabled veterans in Missouri, reducing their residential property tax liability.
HB2306 creates the "Missouri Disabled Veterans' Homestead Exemption," providing tax relief for disabled veterans and their surviving spouses. The exemption reduces the assessed value of a disabled veteran's primary residence, based on their disability rating, for property tax purposes. The exemption amounts vary from $10,000 to $500,000, depending on the veteran's disability rating. The exemption continues for surviving spouses until they remarry. To qualify, veterans must submit an application and documentation of their disability rating and property ownership.
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