HB2923

Missouri HB2923 establishes the "Homestead Improvement Property Tax Relief Act" to exempt qualifying improvements to a homestead from real property.

Missouri HB2923, known as the "Homestead Improvement Property Tax Relief Act," exempts qualifying improvements to a homestead from real property taxation. Qualifying improvements include the construction of a new dwelling or the replacement of an existing dwelling, excluding replacements following a catastrophic event. The exemption applies for four consecutive tax years, provided the property remains a homestead. The exemption does not reduce the preimprovement base value of the dwelling or the true value of the land.