Taxes
Bill #: HCS HB 1428
LWVMO SUPPORTS this bill
Short Description: Increases the income eligibility for the residential property credit and the rental rebate for persons age 65 or older or disabled persons, and increases the amount of credit allowed (also known as the Circuit Breaker Tax Credit).
Status of the Bill: Placed on the House Formal Perfection Calendar for Monday, April 8
Talking points:
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Property tax credit income limits have not been adjusted since 2008
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Senior citizens and disabled persons eligible for the credit have seen their social security income rise - which results in a lower and lower credit
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With the rise in property taxes and rent, the credit is even more necessary to help them stay in their homes or pay rent
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The Missouri Legislature needs to expand income eligibility, increase the credit amount, and index the value of the credit to keep pace with inflation which is important to support low and moderate income Missouri Residents
Link to the summary of the bill: HCS HB 1428
Call to action:
5 for Democracy: Contact your Representative and tell them you support this bill. Look up your representative HERE.
Links to further reading: Improving Missouri's Property Tax Credit Would Help Seniors, Missourians with Disabilities...
LWVMO Position:
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League recommends retention of tax relief measures for qualifying seniors and disabled persons (known as circuit breakers or homestead provisions)
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League believes that basic income should be shielded from property tax overload. The criteria for such a plan include relief based on income, relief to renters as well as homeowners, no erosion of the local property tax base, and use of income tax credits or rebates as reimbursement for
League of Women Voters believes that basic income should be shielded from property tax overload. The criteria for such a plan include relief based on income, relief to renters as well as homeowners, o erosion of the local property tax base, and use of income tax credits or rebates as reimbursement for property taxes paid by low-income taxpayers. (LWVMO Guide to State Action 2023-2025, p28)
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