Renters Tax Credit Heard in Committee

A measure that would prevent senior and disabled renters from claiming a property tax credit was heard in the Senate Ways and Means Committee this week. Known as the Circuit Breaker program, SB 208 would limit the tax credit to homeowners only. Currently, seniors and the disabled who rent and make less than $27,500, or $29,500 if married, are eligible. The tax credit amounts to about $500 per taxpayer.

Sponsor of the bill, Sen. Wayne Wallingford (R-Cape Girardeau), said eliminating the credit for renters would save $52 million a year. The MCC testified against the measure, noting that landlords pass on the cost of the property tax to renters, who do not have the means to purchase their homes. Furthermore, the payouts allow elderly and disabled renters to use the credit to pay for medical expenses and other needs. The committee took no action on the bill.