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Known as the “homestead exemption,” Republican Gov. Mike Parson has yet to sign the senior tax relief bill into law. If he does, individual counties will get an opportunity to approve the tax relief through an ordinance or a countywide vote.

Residents could see relief by the time property tax bills are due at the end of 2023, but only if Parson signs the bill into law and their local county government moves quickly to adopt an ordinance to implement the new tax credit, according to bill sponsor Sen. Tony Luetkemeyer, R-Parkville.

However, it’s more likely that residents won’t see that relief until at least 2024, according to the bill’s fiscal note.

In some counties, including �����Ӱ�ԭ�� County, concern about the potential loss of tax revenue has stalled efforts to adopt the tax break. Both the Missouri School Boards’ Association and Missouri Association of Counties have urged Parson not to sign the bill.

How the senior tax relief, if implemented, would work:

If signed into law, the homestead exemption bill will give counties the option to freeze property tax rates on the primary residences of senior citizens and create a tax credit to offset the costs of their property taxes each year.

To qualify, taxpayers must be homeowners that are eligible for Social Security and be responsible for their homes’ property taxes.

Eligible senior citizens would receive a tax credit equal to the difference between their current tax bill and their tax bill from the year they became eligible for the program — or the year they became eligible to collect social security benefits.

Will the ‘homestead exemption’ apply statewide? Not automatically.

Counties will get to decide whether to adopt an ordinance authorizing the new rule, residents can come together with a petition in support of the tax relief with at least 5% of county residents’ signatures or the rule can be approved by a countywide vote.

Some county officials in Missouri are concerned about the feasibility of implementing the new relief program.

Jackson County Assessment Office Director Gail McCann Beatty told The Star that the county would have a hard time managing it.

“I think most assessors in this state would say a homestead exemption is something we need,” McCann Beatty said. “But… The way this bill is written, the language is so incredibly vague that I don’t believe it could be implemented even if the governor signs it.”

Clay County officials told The Star that they believe people will greatly benefit from the relief program and are already planning for its potential rollout.

Both Kansas and Arkansas have a similar program for homeowners who are 65 years or older to prevent spikes in taxable home values. The programs also benefit people who are disabled. Missouri’s bill does not apply to disabled taxpayers.

Arkansas freezes the home valuation for people who are disabled or at least 65. If the person sells the house or makes major improvements, the freeze will no longer apply to that property.

Kansas offers a 75% property tax refund to certain homeowners, including low-income seniors 65 years or older. Kansas’ tax relief program also applies to disabled veterans.

Includes reporting by the Post-Dispatch.