Modifies provisions relating to the local senior citizen homestead property tax credit

This bill would allow eligible taxpayers in Missouri, defined as residents aged 65 or older with a household income of $75,000 or less or receiving specific public assistance, to receive a property tax credit. The credit would be equal to the difference between their current property tax liability and what they paid in an initial credit year, with adjustments for new construction or annexation. Counties would be required to grant this credit, and the state would reimburse political subdivisions for lost revenue.

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