ST. CHARLES COUNTY, Mo. – A new Missouri law allows counties to approve property tax breaks for senior citizens. St. Charles County could become the first in the St. Louis region to approve such tax breaks.
According to a news release Friday, the St. Charles County Council could approve a bill as soon as Monday that allows for property tax freezes as soon as next year.
Under the new law, counties would be allowed to freeze property tax rates on the primary residences of senior citizens and create a tax credit to offset the cost of their property taxes. The legislation also ends state taxes on Social Security benefits starting in 2024.
To qualify, according to the bill, residents of St. Charles County must be at least 62 years old by Jan. 1, 2024. The county also adds that the tax freeze would “not apply to ad valorem taxes levied for the payment of bond indebtedness or the state blind pension fund.”
For more information on the potential property tax freeze, click here.