House Completes Legislature’s Work On Property Tax Break For Seniors

A property tax break for senior citizens has been approved by the Legislature. It now awaits action by the Governor. The Homestead Preservation Act would cap property tax increases at five percent for homeowners 65 years of age or older. Couples could earn up to $74,000 to qualify. Those who choose the tax credit offered to offset property tax increase above five percent would not be eligible for another propery tax break program for the elderly, called the Circuit Breaker. Supporters point out that the Circuit Breaker program is designed for low-income elderly Missourians, whereas the Homestead Act applies to many more senior citizens.