Homestead Preservation Act

Download and print the application form (PDF)

 

Background Information:
The Homestead Preservation Act (SB 730) allows qualified senior citizens and 100 percent disabled individuals to apply for a credit on their real estate property tax if those taxes increase more than 2.5 percent in a non-reassessment year or 5 percent in reassessment year. The credit would be for the amount that exceeds the 2.5 or 5 percent increase in taxes. The act requires a legislative appropriation to fund the credit. If funding for the credit is less than 100 percent, the credit will be a flat statewide percentage based on the appropriated amount. This credit will be applied against the taxes for the following year.

Important Notes:

• Beginning in 2007, applicants must apply in each year they are eligible.
• Eligible taxpayers can apply for only one of the two tax assistance programs administered by the Missouri Department of Revenue.  You cannot receive valid credits for both the Missouri Property Tax Credit (Circuit Breaker Program) or the Homestead Preservation Credit in the same year.
• Homestead Preservation Credits are subject to funds being appropriated for the program each year.

You may be eligible to receive a Homestead Preservation Credit on your Boone County real estate taxes if:

• You did not receive a valid 2007 Missouri Property Tax Credit (Circuit Breaker Program), AND
• You or your spouse are the owner of record of the homestead property for the prior three years (2005, 2006, and 2007), AND
• If single or married and filing jointly, the federal adjusted gross income may not exceed $77,323, AND
• Your real estate taxes (including mobile homes) increased more than 5 percent in 2007, AND
• If single, you were 65 years of age or older on or before January 1, 2008.  If married, one spouse must be 65 years of age or older on or before January 1, 2008, and the other spouse must be at least 60 years of age on or before January 1, 2008, OR
• You or your spouse is 100 percent disabled.

How to file for the Homestead Preservation Credit:

• 2008 Homestead Preservation Credit applications must be postmarked between APRIL 1 and OCTOBER 15, 2008.
• Applications may be downloaded or printed from the Missouri Department of Revenue's web site by clicking here, or by calling (800) 877-6881, or in writing to MO DOR, Taxation Bureau, P.O. Box 3022, Jefferson City, MO 65105-3022.
  • Instructions on filling out the applications may be downloaded or printed by clicking here.
• The Boone County Collector's Office also has 2008 applications available at the office that you may pick up.
• The following items should be attached to your completed Homestead Preservation Credit application (Form HPC):
  • Verification that you or your spouse are 100 percent disabled, if applicable.  Either attach a copy of the letter from Department of Veterans Affairs or from the Social Security Administration.
  • If you did not file a 2007 Missouri Individual Income Tax Return, attach a copy of your 2007 federal income tax return, page 1 and 2.  Refer to the application instructions if you were not required to file either return.
  • Form 948, Assessor's Certification for 2006 and 2007 if the property is more than 5 acres or it is a mobile home.
  • Paid Boone County real estate tax receipts for 2005, 2006, and 2007.  Or, paid personal property tax receipts for your mobile home.  Copies of receipts may be obtained from the Boone County collector's office.
• Sign and date the completed application.  Both spouses must sign if filing combined.
• Mail the completed forms and all necessary attachments to:

  Department of Revenue

  P.O. Box 478

  Jefferson City, MO 65105-0478

• Failure to follow the instructions provided with the application or to attach the required documentation may result in the application and credit being denied.

 

The DOR provides answers to frequently asked questions on their web site.  Click here for more information regarding the Homestead Preservation Credit program.