HB 1321 -- Property Tax Credit

Sponsor:  Sutherland

This bill changes the qualifications for and the amount of credit
allowed under the senior citizen/disabled person property tax
credit, commonly known as circuit breaker.  The bill:

(1)  Increases from $27,500 to $32,500 the maximum income allowed
in order to claim the credit for single, head of household,
qualifying widow(er), or married filing separately;

(2)  Increases from $27,500 to $36,500 the maximum income allowed
in order to claim the credit for married filing combined;

(3)  Increases from $14,300 to $15,000 the minimum income allowed
in order to claim the full credit;

(4)  Increases from $2,000 to $4,000 the amount of the exemption
allowed for a married couple; and

(5)  Increases the maximum credit amount from $750 to $800.

The bill also extends the requirement for certain political
subdivisions to deposit a percentage of property tax collections
into county assessment funds to December 31, 2012.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:10 pm