HCS/HB 649 - Beginning January 1, 2006, this act authorizes a fifty percent tax credit to elderly and disabled persons who have lived in their home for at least twenty years and who have spent at least ten percent of their household income on real property taxes. An elderly person will not be able to claim this credit if they filed a valid claim under Section 137.016, RSMo, for the same tax year. An eligible taxpayer is not allowed to claim the tax credit for the year their homestead is sold. The provisions of the act will expire six years from the effective date. JASON ZAMKUS
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