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Boone County Property Tax Relief for Seniors: Applications Open July 1

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Boone County seniors will now qualify for property tax relief, but they will have to apply for it. The applications for the Boone County property tax relief for seniors will open July 1. The tax relief for eligible seniors will be calculated using 2024 as the base tax year.

Senior Real Estate Tax Relief Program: what is it?

Late last week, the Boone County Commission adopted the program to provide seniors with a real estate property tax exemption. The approval for the program, called the Senior Real Estate Tax Relief Program, came just days after the Missouri General Assembly approved Senate Bill 756.

In a press release, the commission noted that SB756 provided “statutory cleanup (and clarity) sought by counties in order to successfully implement the program.”

Also, Boone County voters approved the program in April. Four public hearings were held across the county to get public feedback on the Senior Real Estate Tax Relief Program.

In the year a person is eligible for the relief, their property tax bill will freeze at that amount. If a person first becomes eligible for the relief and then their property is assessed, their property tax bill will freeze based on the current property tax rate for the county.

For instance, if the assessed value of their property is $100,000, the property tax bill for the county will freeze the tax at $282. The tax amount will remain the same even if there is an increase in the future tax rate. It must be noted that this relief doesn’t factor in other taxing entities.

Many taxing entities, including school districts, fire districts and other public services, have raised concerns that the tax relief will result in a loss of revenue. The full impact of the tax relief, however, is still being determined as possible changes to the program are still in the pipeline.

Boone County property tax relief for seniors – how to apply

To qualify for the Boone County property tax relief for seniors, a person must be:

  • 62 years or older before January 1 of the initial credit year.
  • Owner of a homestead or has a legal interest in such property.
  • Must be liable to pay real property taxes on such homestead.

There are a few exceptions and exclusions to the requirements, such as levies to voter-approved bond issues and levies for the state blind pension fund. Also, relief won’t be available if construction or improvements are made to the home.

The Boone County property tax relief for seniors is voluntary and eligible seniors will have to apply for it. Applications will open on July 1, while the deadline is October 1 for year 2024. The deadline for subsequent years is June 30.

Applications can be downloaded online or in person at the Boone County Collector’s office. It is mandatory that an application is signed in the presence of a notary and is submitted to the Collector’s Office before the deadline.

Visit the county’s website for more information on the Senior Real Estate Tax Relief Program

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