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Missouri Property Tax

Missouri Property Tax system is maintained by the Missouri State Tax Commission, which is the authorized state agency to oversee property assessments throughout the state. The Commission provides assistance to county assessors and ensures that Missouri property tax assessments are accurate. The commission also hears appeals concerning the dissatisfaction of taxpayers on assessed value of their real property. The mission of the Missouri State Tax Commission is to bring fairness and uniformity in real property assessment across the state.

MO Property Taxes

As a result, the process of property tax assessment remains the same throughout the state, although the property tax in Missouri is collected and levied by local governments. Moreover, the major portion of such property taxes are utilized by the county, municipal, city etc to meet the expenses of their public services. In fact, the Missouri Property Tax Rate is determined according to the expenditure made by these authorities on providing civic services. Furthermore, all real property within the state of Missouri is taxable unless an exemption is provided by the state Property Tax Law.

Missouri Property Tax Credit

Missouri Property Tax Credit Claim (MO-PTC) is one such property tax waiver program of the state government. The Property Tax Credit is provided to certain category of senior citizens and also to totally disabled individuals. The MO-PTC is applicable for a portion of Missouri Real Estate Taxes or rent paid and is based on the the total household income.

The maximum limit of the Missouri Property Tax Credit is $750 and can be claimed on the home, which have been occupied during the period being claimed. The Missouri Department of Revenue administers another type of property tax waiver program for eligible senior citizens and totally disabled individuals. This is called Homestead Preservation Credit (HPC). If your income is more than the required limit to qualify for Missouri Property Tax Credit Claim, you may be eligible for the HPC. However, only one of the two property tax waiver program can be availed at a time. For more information, visit the websites of Missouri Department of Revenue or Missouri State Tax Commission.


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