Housing (Property Taxes)

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.