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Missouri Property Tax Credit

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Question
Missouri Property Tax Credit

Answer

The Missouri Property Tax Credit Claim 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. The credit is for a maximum of $750 for renters and $1,100 for owners who owned and occupied their home. The actual credit is based on the amount of real estate taxes or rent paid and total household income (taxable and nontaxable).If you rent from a facility that does not pay property taxes, you are not eligible for a Property Tax Credit. 

Are you eligible??

• If you RENTED or did not own and occupy your home for the   entire year, the amount you enter on Line 10 cannot exceed   $27,500. If the amount of your net household income on Line 10 is above $27,500, and you are not eligible for the credit. There is no need to complete and submit the form.

• If you OWNED and OCCUPIED your home for the entire year, the amount you enter on Line 10 cannot exceed $30,000. If the amount of your net household income on Line 10 is above $30,000, you are not eligible for the credit. There is no need to complete and submit the form.

Note: Your home or dwelling is the place in which you reside in Missouri, whether owned or rented, and the surrounding land, not to exceed five acres, as is reasonably necessary for use of the dwelling as a home. A home may be part of a larger unit such as a farm or building partly rented or used for business.

 

 


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Article Details
Views: 1240 Created on: Jun 15, 2013
Date updated: Dec 31, 2018
Posted in: States, Missouri

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