Missouri Bill Would Give Tax Credit To Homeowners

By Matt Lupoli | mlupoli@kolr10.com

Published 03/04 2014 10:07PM

Updated 03/04 2014 10:17PM

SPRINGFIELD, Mo. -- A bill in the Missouri legislature calls for a one-time tax credit to all homeowners.

"We've got 400 million dollars we're carrying over, I'd like to give it back to taxpayers rather than spend it," Sen Eric Schmitt said.

Schmitt, a Republican serving District 15 in St. Louis County,  introduced Senate Bill 666.

The proposes a tax cut to anyone who owned residential property as of Jan. 1, 2014.

"The average in Greene County would be $162 that a property owner could use to pay towards their property bill for that year," Schmitt said.

The break would equal .75 percent of a home's value, so a resident  with a home assessed at $280,000 would get $400 and a home worth $140,000 would be worth a $200 credit.

Schmitt said that money will help stimulate the state economy.

"Any time you look at a rebate like this it's helped to expand our economy," Schmitt said.

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