Property Tax Relief Credit For Limited Incomes
February 14, 2019
Matt Daugherty, Stone County Assessor, would like to inform senior citizens and disabled persons with limited incomes about a program that offers property tax relief. The Missouri Property Tax Credit (MO-PTC) provides refunds of income tax credits for a portion of the real estate or rent they have paid for a year. The credit is based on the amount of real estate taxes or rent paid and total household income. “Rent” includes money paid for a home, a room in a nursing home and apartment or mobile home unit. A person may receive a credit or refund up to $750 for renters and $1,100 for owners on property taxes or rent paid.
To qualify for the program, an individual or individual’s spouse must either:
Be 65 or older as of December 31st of the tax year, OR
Be 100% disabled or 100% disabled veteran, OR
Be 60 years of age or older on or before December 31st of the tax year and have received surviving spouse social security benefits, AND
2. Owned and occupied for the year: married filing combined must be $34,000 or less, single $30,000 or less AND
3. Property tax or rent for the tax year in question was paid on the primary residence.
To find out more about the program, call the Missouri Department of Revenue at (573) 751-3505 or http://dor.mo.gov/personal/ptc/.
Matt Daugherty, Stone County Assessor, would like to inform senior citizens and disabled persons with limited incomes about a program that offers property tax relief. The Missouri Property Tax Credit (MO-PTC) provides refunds of income tax credits for a portion of the real estate or rent they have paid for a year. The credit is based on the amount of real estate taxes or rent paid and total household income. “Rent” includes money paid for a home, a room in a nursing home and apartment or mobile home unit. A person may receive a credit or refund up to $750 for renters and $1,100 for owners on property taxes or rent paid.
To qualify for the program, an individual or individual’s spouse must either:
Be 65 or older as of December 31st of the tax year, OR
Be 100% disabled or 100% disabled veteran, OR
Be 60 years of age or older on or before December 31st of the tax year and have received surviving spouse social security benefits, AND
2. Owned and occupied for the year: married filing combined must be $34,000 or less, single $30,000 or less AND
3. Property tax or rent for the tax year in question was paid on the primary residence.
To find out more about the program, call the Missouri Department of Revenue at (573) 751-3505 or http://dor.mo.gov/personal/ptc/.