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Missouri Property Tax Credit


Content provided for general information. Talk to your advisor to learn about recent updates or other rules that may apply to your situation.

Missouri has a property tax credit that can help reduce your income taxes if you paid real estate taxes or rent during the year and meet the eligibility requirements.

How much is the Missouri property tax credit?

The Missouri property tax credit is worth as much as $1,100. You can qualify for the entire amount if you owned and occupied your home for the entire year.

If you’re a renter or live in your home for part of the year, you can qualify for up to $750.

Your actual credit depends on your property taxes or rent paid. If you’re renting, the place you’re living in must pay property taxes.

Most places you can rent have to pay property taxes. Certain places, like many assisted living facilities, are exempt from property taxes. If the place you’re living in doesn’t have to pay property taxes, you generally can’t get the property tax credit.

The property tax credit generally doesn’t apply to Missouri personal property taxes.

Who qualifies for the MO property tax credit?

There are several ways you can qualify to make a property tax credit claim.

  • Either you or your spouse was age 65 or older as of December 31st in the calendar year you’re claiming the tax credit.
  • You or your spouse are 100% disabled as a result of military service.*
  • You or your spouse are 100% disabled (non-military service).*
  • You are age 60 or older (by the end of the year you’re claiming the credit) and receiving surviving spouse social security benefits.

*Both military and non-military disabilities can qualify. The main difference is that service members with a 100% military-related disability can generally exclude VA payments from their income for the purposes of determining their eligibility for the credit.

What is the income limit for Missouri property tax credit?

The Missouri Department of Revenue regularly adjusts the total household income limit for inflation.

Currently, the income limit for full-time owners is $30,000 for single filers and $34,000 for married couples filing joint tax returns.

The income limit for renters and part-time owners is currently $27,200 for single filers and $29,200 for married couples filing combined tax returns.

How do I apply for the property tax credit in Missouri?

There are two ways to claim the tax credit for Missouri real estate taxes.

If you have to file a Missouri income tax return, include Form MO-PTS with your Form MO-1040 Maryland tax return.

If you don’t need to file a Missouri income tax return, you can file Form MO-PTC. This form is kind of like a real estate tax return.

You can file your property tax credit claim on the Missouri tax webpage.

Does Missouri have a homestead exemption?

Missouri doesn’t have a homestead exemption for property taxes. There is a homestead exemption for legal purposes such as bankruptcy.

The good news for Missouri property owners is that many states with homestead exemptions don’t have property tax credits for state income taxes. Missouri’s property tax credit is worth more than many state homestead exemptions.

The legal Missouri homestead exemption allows you to protect part of the value of your homestead property if you have to file for bankruptcy.

Generally, Missouri homestead laws let you protect up to $15,000 of your home equity from having to be liquidated in bankruptcy. In some cases, federal bankruptcy exemptions may give you higher amounts of protection.

The Missouri homestead exemption generally has nothing to do with your tax situation, and you should talk to a lawyer if you have questions about filing for bankruptcy or protecting your assets in general.

  • Missouri Personal Property Tax Waiver