MO HB175

Repeals and reenacts section 135.030, RSMo, relating to senior citizens property tax relief under the circuit breaker program.

Increases the minimum base for calculating senior citizens property tax credits from $14,300 to $16,000 for all calendar years beginning January 1, 2012 and thereafter.

Maintains the maximum upper limit of $27,500 for non-homestead properties and $30,000 for homesteads owned and occupied for the entire year.

Requires the Department of Revenue to notify taxpayers who may qualify for the property tax credit but have not applied, based on department determination of potential eligibility.

Preserves the existing credit calculation structure using a table based on property tax amounts and income increments, with credits ranging from 0 percent to 4 percent accumulative increases.