ST. JOSEPH, Mo. (July 10, 2024) - The Buchanan County Commission continues to review the Homestead Property Tax Credit. The recently passed Senate Bill 756 clarifies several ambiguities in last year’s legislation.  Despite the new legislation, the burden still rests with each county to resolve the remaining uncertainties about implementing the credit program.

Development of a county ordinance and application process will require collaboration and resources from multiple elected officials, including the County Commission, Collector, Assessor, Recorder of Deeds, and County Clerk and the several political subdivisions within the County.

It should also be noted that even if the County immediately implemented the credit program, the amount owed on 2024 tax bills would not be reduced. The credit will only apply to future increases in real property taxes. It will not reduce the current real property tax amount owed by senior citizens or give a refund of taxes previously paid.

The full text of Senate Bill 756 can be found here: https://www.senate.mo.gov/24info/pdf-bill/intro/SB756.pdf

While implementing the tax credit program is highly unlikely for the 2024 calendar year, the Commission intends do the following:

Continue to listen to citizens’ questions and concerns on the issue.

Encourage input from all taxing entities such as the cities, villages, schools, libraries, and fire departments, to determine the effects of this credit on their revenue.

Review drafts and examples of ordinances and application procedures.

Collaborate with County officeholders and staff to create a workable process.

Bring a proposed tax credit ordinance for a vote before the County Commission by the end of 2024 for possible implementation of the program in 2025.