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This is the first year that Greene and Christian County senior residents may take advantage of property tax credits created by state legislation last year known as Senate Bill 190.
What has changed with Missouri's senior property tax benefit? With the Greene County Commission officially ordering a new process under SB 756, the senior tax freeze is now available for all ...
With roughly 7,000 applications for Greene County senior tax credits in and only about 1,000 cleared, the Collector's Office is in need of more help.
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
In order to claim this credit the tax filer must be a resident for the full year. The maximum credit is $1,000 and for filers who make less than $25,000 per year the property tax must be over 3% of their yearly income. For tax filers who make between $25,000 and $40,000 the property tax must be over 4% of their yearly income.
Depending on your age, you may also be eligible for the Senior Tax Credit, which offers a credit for primary homes of citizens 65 and over. These credits can dramatically lower your property tax ...