If you are a senior citizen living in Missouri, you know it can be hard to make ends meet in the current economy. Even though the news is full of stories about low inflation, making ends meet as a senior citizen on a fixed income is no easy task.
That’s why as a senior citizen you should be aware of an important way to cut your Missouri Property Tax.
The Missouri Property Tax Credit can provide you with a property tax credit of up to $750 if you qualify. To get it you must be 65 years of age or older and must own or occupy your home for the entire year. For the 2009 tax year your household income must be less than $30,000 if you are an individual or $34,000 if you are married and file a joint tax return.
Unfortunately the property tax credit is the only way for you to reduce your Missouri property taxes as a senior citizen in the state. And because your income levels have to be relatively low to qualify for the credit it doesn’t provide help to a large group of senior citizens.
Missouri like other states across the country continues to experience budget challenges at the state level. In response to continued pressure to make ends meet, legislators in Missouri decided not to continue the Homestead Preservation Credit beyond 2009.
Prior to this year if you didn’t qualify for the Missouri Property Tax Credit because you were over the income limit, the homestead credit provided an additional option for senior citizens with higher income levels to receive some property tax relief. Unfortunately this is one property tax credit that no longer exists.
In this tough economy where it is harder to pay your bills, as a Missouri senior citizen looking to make your fixed income go further, it has never been more important for you to pay close attention to the property tax value that has been assigned to your home.
Appealing your Missouri property tax assessment is the one thing you can do as a senior citizen to fight back!