Cole County approves property tax credit for seniors

JEFFERSON CITY, Mo. (KMIZ)

The Cole County Commission voted Tuesday to approve a senior citizen property tax credit.

The senior tax freeze passed on a 2-1 vote with Commissioner Harry Otto opposed. According to the Missouri Department of Revenue, the credit is available to certain senior citizens and disabled people for a portion of their yearly property taxes.

Cole County becomes one of over two dozen counties in the state to offer this tax break. A state law allowing a property tax exemption for seniors went into effect Aug. 28, 2023. The freeze has to be put into effect by county commissioners.

Presiding Commissioner Sam Bushman said they wanted to wait to see how other counties voted when the senior tax freeze was on the November ballot in counties where it went to a public vote. "I think the majority of people are going to vote in favor of it," said Bushman. "So rather than waiting 'til April, I was just ready to move ahead and adopt it."

Now that this tax freeze has been approved, Cole County will have to gather petitions for people who want to apply and hammer out details. Bushman said the freeze would affect real estate but not personal property.

"It's those that are 62 and over who have a home, you know, and that is their primary residence," Bushman said. "It's going to freeze the taxes on your home. It's not going to freeze taxes on your automobiles ... It's not going to freeze taxes on your farm. It's just kind of freeze the taxes on your primary residence."

With the freeze, seniors may not see the money being saved until 2026 and it may be in small amounts. However, once years go by that amount of money will increase, Bushman said.