Real Estate Tax Refund

Every homeowner in Missouri could get a one-time tax refund under legislation pending in the state Senate.

The proposal is estimated to cost the state $384 million. It would grant an income tax cut to everyone who owned residential property as of Jan. 1, 2014.

The tax break would equal 0.75 percent of the assessed value of homes. The Senate already has given the bill initial approval. A second vote could come as soon as this week and would send the measure to the House.