Tax relief is close to a done deal for Missouri senior citizens. The Missouri House of Representatives passed the measure Monday.

The bill allows county governments to freeze property tax rates for senior citizens when they turn 65 years old. It also exempts social security benefits from state income taxes at any level.

The bill was sponsored by Senator Tony Luetkemeyer of Parkville and carried in the House by state Representative Ben Baker of Neosho.

“Their home is their largest asset and the equity in someone’s home is an investment of a lifetime and the one tangible thing people have to show for their lifetime of work,” said Baker. “Seniors who have played by the rules their entire lives, save for retirement, pay their fair share of taxes, should never face the prospect of being taxed out of their home by the government.”

The estimated annual loss to the state is about $318 million. Local school districts would also lose money they would usually get from an increase in property taxes.

Next the bill goes to Governor Mike Parson’s desk.

KPGZ News - Brian Watts contributed to this story