The Joplin Globe, Joplin, MO

Senior Outlook

Discussion

February 3, 2010

Are you ready for April 15?

If you plan on taking advantage of the Missouri Property Tax Credit for 2009, be aware that the guidelines have changed from past years. Even if you may have qualified in the past, you may not meet the criteria this year, so it’s important to understand the new guidelines.

To be eligible for the Property Tax Credit (PTC) refund or “Rent Rebate,” you must meet the guidelines in each of these three categories:

Age or disability — You and your spouse must be 65 or older or disabled. If you are 60 or older and are receiving survivor’s benefits, you are also eligible.

Residence — You and your spouse must have lived in Missouri for at least one calendar year.

Income — Your annual income must be $27,500 or less if you are single and $29,500 if you’re married.

For homeowners, if your income was below $30,000 ($34,000 if married filing jointly) you are eligible. (You must be 65 years of age or older as of December 31, 2009).

All income is included, even the portion of your Social Security that goes towards paying your Medicare Premium. Disabled military veterans may be allowed to exclude their veteran pension.

Unfortunately, not everyone who meets income guidelines will receive refunds. Refunds are determined by the amount of property tax or rent paid in relation to income.

If you have not filed for this refund previously, you may file for the past three years – 2006, 2007 and 2008, in addition to 2009, but you must have documentation for the past years for which you want to file.

To file for the Property Tax Credit (PTC) you will need the following forms:

For verification of income you will need (as applicable):

Printout from Social Security showing benefits before any deduction (SSA-1099).

Printout showing benefits received from Supplemental Security Income (SSI) total for the year.

1099 or 1099 R showing total amount received for pensions, annuities, dividends or interest income.

W-2 forms showing earnings for this year.

Letter from Veterans Administration, Social Services, Division of Family Services (DFS) and/or Employment Security (if applicable).

For verification of tax paid:

For homeowners — A copy of paid receipt for real estate property tax. If you live in a mobile home or if you own more than five acres, you must enclose Assessor’s Certification Form 948.

For renters – A copy of rent receipts from your landlord (housing authority, nursing home or residential-care-facility). Copies of canceled checks will be acceptable if your landlord will not provide a rent receipt. Please note: If you live in a facility that is exempt from having to pay personal property taxes, you will not be able to take the Rent Rebate credit.

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