PR Seniors could see property tax relief

Senator Will Kraus

8^th Senatorial District

For Immediate Release:

January 11, 2016

Capitol Building, Room 418

Jefferson City, MO 65101

Contact:

(573) 751-1464

Seniors could see property tax relief

JEFFERSON CITY, Mo. – Sen. Will Kraus (R-Lee’s Summit) filed a proposed constitutional amendment Monday that could help seniors, especially those on fixed incomes, cope with increasing property taxes.

The proposed amendment, Senate Joint Resolution 35, would exempt personal property from taxation for citizens over the age of 72. The exemption would ease a burden for seniors, particularly those living on a fixed income, Kraus said.

“As property taxes increase, they take up a bigger percentage of seniors’ fixed incomes,” Kraus said. “This makes it significantly harder for seniors to stay in their homes.”

The exemption on homestead properties would apply to a small percentage of the Missouri population, Kraus said. Because the qualifying age is high, many citizens may have chosen a different living situation than home ownership.

“I don’t anticipate this having a significant impact on revenues,” Kraus said. “However, for those that do qualify, this will reduce a significant burden for them.”

An identical version of the resolution was filed in the House of Representatives by Rep. Bryan Spencer. The resolution would have to pass both chambers and then would need to be approved by a vote of the people on an upcoming statewide ballot before becoming law.