Modifies provisions relating to the local homestead property tax credit

This bill updates Missouri law to allow counties to offer a property tax credit to residents who are at least 62 years old and own their primary home. To qualify, eligible homeowners must be current on their taxes and must live in a county that has either passed an ordinance or voted in favor of this credit through a public referendum. The credit is designed to offset increases in property taxes by comparing current tax bills to the amount owed in the year the taxpayer first became eligible. Counties that adopt this program will apply the credit when calculating tax liabilities and will report the savings on the official tax statements sent to homeowners.