KINDER BACKS TAX CAP SLATED FOR 1998

State Sen. Peter Kinder is co-sponsoring legislation that would put a cap on property taxes in Missouri.

The Cape Girardeau Republican is backing a bill offered by state Sen. David Klarich, R-Ballwin.

The bill is one of a number of measures filed by lawmakers this week in advance of the 1998 legislative session, which begins in January.

Klarich said the proposal is needed to curb skyrocketing property tax reassessments and provide "tax justice" for homeowners.

"The drastic increase in real estate evaluations over recent reassessment periods has been financially crippling to many homeowners and especially our seniors," Klarich said. "Some people are simply being taxed out of our homes."

Under the Missouri Homestead Preservation Act, the assessed value of any residential property occupied by the owner could not increase by more than the consumer price index or 5 percent, whichever is less. The cap wouldn't apply to new residential construction or improvements, or commercial or agricultural property.

The measure also would freeze the assessed value of owner-occupied, residential property for any homeowner who is 65 years of age or older, and who has lived in the home for at least five years.