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Missouri Property Tax Credit Program and The Missouri Homestead Preservation Act


 

Missouri Property Tax Credit (Mo-PTC Form 948): If you are age 65 or older OR 100% disabled you may qualify for the Missouri Property Tax Credit. If you are single and your total income $25,000.00 per year, from all sources, or less or if you are married and your total income from all sources is $27,000.00 or less you may qualify. The residence being claimed must be your legal, primary residence. If you rent, you may be eligible. You may contact your local tax preparation person or contact the Camden County Assessor’s Office for the proper form to be mailed in. If you are not a resident of Camden County, please contact your County Assessor for more information.

You may be able to file for your Property Tax Credit electronically, visit the Missouri Department of Revenue’s web site: http://www.dor.mo.gov/tax/personal/ptc/ or you may call 1-800-877-6881 for assistance. TDD may call 1-800-735-2966.

This program will provide a check mailed to you from the Missouri Department of Revenue for a percentage of your paid real estate taxes, up to $750.00.

Homestead Preservation Act:

If your real estate taxes increase more than 5% in a re-assessment year (odd numbered year) or 2 ½% in a non-reassessment year (even numbered year), you may be eligible to apply if:

You are age 65 years or older, if married at least one spouse must be age 65 years or older and the other at least 60 years of age) or at lease one spouse is disabled as of January 1 of the tax year in which you are claiming the tax credit.

Your total household income is $72,380.00 per year or less.

You did not make any improvements to your property that total more than 5% of the previous year’s appraised value.

You have paid the real estate property tax on the homestead for the prior three years by the payment due date.

As of January 1, 2006 to submit an application, you may contact the Missouri Department of Revenue at 1-573-751-3505, or on the internet at http://dor.mo.gov./tax/personal/homestead/

This program provides a credit to be applied to the next year’s tax bill, depending on the amount of funding each year by the Missouri State Legislature.