MARYLAND HEIGHTS — Seniors will be eligible for a property tax break in the coming years after County Executive Sam Page announced Wednesday he would not block the plan from becoming law.
Page said the state law that enabled county governments to enact the plan is flawed, but he supports tax relief for seniors. He let the county law go into effect without his signature, and said he hopes the Missouri Legislature will work on fixes.
“I expect we’ll be talking about it for awhile,†Page said at a news conference Wednesday.
The law includes a $550,000 cap on the value of eligible homes. Residents older than 67 will have to apply for the tax break by submitting a form to the county Collector of Revenue annually.
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The law doesn’t change the way the assessor values real estate, and taxpayers will still receive assessment notices. But the collector’s office will freeze taxes, for those who qualify. Homeowners will pay on the value of their homes at the time they apply.
Applications are not yet ready. The soonest homeowners could see tax savings is 2025, the next property assessment cycle.
And the council will be required to renew the law in five years as part of a sunset clause included in the legislation to gain Democratic support.
Councilman Dennis Hancock, a Republican from Fenton, introduced the plan this summer after a bill from Republican Councilman Mark Harder of Ballwin originally failed.
Hancock praised Page’s decision Wednesday.
“It’s a great day for senior taxpayers in ºüÀêÊÓƵ County,†he said.
But he doesn’t believe the legislature will make any changes to the law, at least not next year.
“I think they’re going to wait until they have more data before they do anything with it,†Hancock said.
The legislature could specify how counties should administer the break, and clarify if a cap on property values is legal. The state law doesn’t specifically allow it.
There are also questions about whether a county can legally alter the amount of taxes a school district or other taxing body can collect. State law allows those districts to set their levy with some limits.
In ºüÀêÊÓƵ, a proposed plan would only provide a break on the city’s portion of property taxes. In ºüÀêÊÓƵ County, the break applies to all taxing districts.
Other counties, including St. Charles County, have passed the bill without restrictions.
The legislature reconvenes the first week in January.