Cole County considers property tax credit for seniors
Dec 23, 2024
JEFFERSON CITY, Mo. (KMIZ)
The Cole County Commission could vote Tuesday on a senior citizen property tax credit.
According to the Missouri Department of Revenue, the credit "gives credit to certain senior citizens and 100 percent disabled individuals for a portion of the real estate taxes or rent they have paid for the year."
"Missouri does have a senior citizens tax credit, it's been there since the '70s, but it's means-tested -- at some level of income you're not going to get it," Commissioner Harry Otto said during a meeting on Aug. 13. "Because your income has been determined to be too high and it is a low number. My biggest heartburn [with this policy] is it's not means-tested, it's not focused on the people that need it, it's on everybody that's 62 and older."
If Cole County passes this policy, it would be one of over two dozen counties in the state to offer this tax break.
Boone County enacted a similar policy in May.
"At that time, we were the 12th county, to adopt. And today, I believe the final count ... I believe it's up to 26 or 27 counties," Boone County Presiding Commissioner, Kip Kendrick said Monday in an interview with ABC 17 News. "Well over 10,000 seniors participating in the program, over 8,500 parcels that are now frozen as part of that senior property tax freeze."
In Boone County, the program is open to eligible residents who must apply annually for a tax credit on their primary residence. An eligible resident is defined as:
Is 62 years old before Jan. 1 of the initial credit year; and
Is an owner of record of a homestead or has a legal or equitable interest in such property; and
Is liable for the payment of real property taxes on such homestead.
More information can be found on the Boone County Senior Real Estate Tax Relief Program website.
Check back for updates.
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