Nixon proposal would help Missourians pay property taxes

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Missouri Gov. Jay Nixon and State Treasurer Clint Zweifel are proposing to pay the first year of property taxes for income-eligible Missourians who buy a new or existing home in the state after Jan. 1.

Nixon and Zweifel, chairman of the Missouri Housing Development Commission, said in a Tuesday release that they will present a proposal to the MHDC at its Dec. 18 meeting. If the commission approves it, Missouri families earning less than $98,000 a year who enter into a contract to buy a new or existing home after Jan. 1 would have their property tax paid, with a $1,250 limit. Those families would be eligible to have an additional $500 go toward their tax bills if they buy energy-efficient homes or items, such as Energy Star appliances.

The proposal is expected to pay the property taxes for 9,000 to 11,000 Missouri families using $15 million in unencumbered reserve funds at MHDC.

“Purchasing a home not only helps families achieve part of the American dream, but it also strengthens our economy and provides good-paying jobs,” Nixon said in the release. “Because this is so vital to our state’s economic growth, we want to do everything feasible to encourage people to buy homes and make it easier for homeowners to save money and energy resources by installing energy-efficient features in their homes.”

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