Did you know in Missouri certain individuals are eligible to claim tax credits for paid real estate taxes or rent? Do you know if you qualify?
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The Missouri Department of Revenue administers a program called the Missouri Property Tax Credit; the program is aimed toward giving credit to the disabled and the elderly for a portion of the property taxes or rent they have paid for the year. The credit caps at a maximum of $750 for renters or $1,100 for homeowners, and is good only toward property the claimant occupied for the year being claimed. The actual credit amount depends on factors such as participant income and total rent or taxes paid.
Green Hills Community Action Agency can assist you in calculating the property tax credit this year. If you rent, are age 65 or older or 100% disabled, and your income is below $27,500 annually if single or $29,500 annually if married you may qualify. If you owned and occupied your home and are age 65 or older or 100% disabled, have been a Missouri resident for the entire year, and your income is below $30,000 annually if single or $34,000 annually if married filing jointly, you may qualify for this "senior tax credit." Other qualifying criteria include persons who are aged 60 or over and receive surviving spouse social security benefits. Those with 100% disability due to military service may have higher income limits.
For those who qualify for the tax credit, there are two methods of applying. If you are required to file a Missouri Individual Income Tax return, you must use Form 1040 or MO-1040P and attach Form MO-PTS to claim the Property Tax Credit. If you are not required to file a tax return this year, then you may simply file the Missouri Property Tax Credit Claim. If you’re unsure which method pertains to your situation, contact your local Green Hills office, they will be happy to help. All 2009 claims are due by April 15, and you may be able to file for up to three previous years from the original due date.
The Senior Tax Credit Assistance program is just one of the many valuable public services provided to the community by the Green Hills Community Action Agency, a privately funded, non-profit agency that has been active in northern Missouri for over 44 years.