HB 1094 -- Senior Citizen Deferral of Property Taxes

Sponsor:  Donnelly

This bill allows senior citizens, 62 years of age or older, to
delay paying property taxes on their residences by filing a
claim.  The Department of Revenue will determine claim
eligibility.  The taxes plus interest must be paid when the owner
dies, sells the property, or moves or when the property changes
ownership.  The annual income limit to qualify for a full
deferral will be $32,000.  For any income over that limit, the
amount which can be deferred is phased out at a rate of 50 cents
per dollar earned over $32,000 until the amount reaches twice the
limit.

If a senior citizen's income exceeds the limit of $32,000, but
not twice that limit, the portion of tax which he or she is not
able to defer resulting from an increase in their property tax
beginning in the calendar year after his or her sixty-second
birthday will be eligible for deferral.  However, it is not
retroactive, and senior citizens currently older than 62 years of
age who qualify may defer the increased amount based on their
property tax level beginning in the calendar year after the
effective date of the bill.  The bill establishes eligibility
criteria for the taxpayer and the property for participation in
the deferral.

All deferrals of tax will result in a lien which will be held by
the Department of Revenue against the property.  The lien will be
for the amount of the property tax as estimated by the department
plus interest accruing at 6% per year.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:21 am