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MO SB101
Bill
Status
Introduced
1/8/2025
Primary Sponsor
Mike Cierpiot
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AI Summary
- Increases the maximum income eligibility limits (maximum upper limit) for the Missouri property tax credit beginning January 1, 2026, with new thresholds varying by filing status: $38,200 (single), $42,200 (single homeowner), $41,000 (married filing combined), and $48,000 (married filing combined homeowner), up from the current $27,500/$30,000 levels
- Raises the maximum creditable property tax from $1,100 to $1,550 and the maximum rent equivalent from $750 to $1,055 for calendar years beginning on or after January 1, 2026
- Increases the income exemption for calculating eligibility from $2,000 to $2,800 for individual claimants and from $4,000 to $5,800 for a claimant's spouse, effective for calendar years beginning on or after January 1, 2026
- Requires annual inflation adjustments beginning January 1, 2027 for the maximum upper income limits, property tax credit totals, and income increments, based on the Consumer Price Index for All Urban Consumers
- Directs the Department of Revenue to proactively identify taxpayers who may qualify for the property tax credit but have not applied, and to notify them of their potential eligibility
Legislative Description
Modifies the Senior Citizens Property Tax Relief Credit
Last Action
Informal Calendar S Bills for Perfection
5/30/2025
Committee Referrals
Economic and Workforce Development1/23/2025
Full Bill Text
No bill text available