Dennis Norman
UPDATE June 7, 1010 – Here are links to the Forms from MHDC to claim the tax credit as well as some sample forms they have provided showing how to fill them in:
Program Application
Home Purchase Affidavit
Promissory Note
Hope Program Information and Instructions
Sample Forms
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Dennis Norman
Back in December I wrote a post about a $35 million economic development initiative that was approved by the Missouri Housing Development Commission which included $15 million to pay the first-year of property taxes for qualified homebuyers who purchase a new or existing home after January 1, 2010. Missouri Treasurer, Clint Zweifel, said he expected this would help between 9,000 and 11,000 Missouri families making less than $100,000 a year.
This morning I saw a report from a very trusted source that indicated thus far only two home buyers have taken advantage of this incentive. Wow, the State of Missouri is trying to give away money and it can’t! Perhaps homebuyers are not aware of the incentive, or there just aren’t that many people that meet the income guidelines that have bought a home since January 1st. In either event, the “incentive” does not appear to doing anything for the Missouri housing market.
To get complete details on the program please see my prior post by clicking here.
Related posts:
- MHDC approves $20 Million incentive for Missouri home buyers
- St. Louis County Offering Property Owner Advocates to Help Appeal Property Assessment
- Justice Department Files Fair Housing Lawsuit in Missouri Against Owner and Managers of Federally-Subsidized Property for Race and Sex Discrimination
- Almost 1 in 5 prospective homebuyers say extending $8,000 tax credit to 2010 would be primary influence on their decision to buy
- Missouri Association of REALTORS working to prevent double taxation
I live in Missouri and I own a home. I have always paid my real estate taxes on time. However
I was in and out of the hospital during the past year and with my last admission (over 2 months)
I came home and had no money to pay my real estate taxes due to paying off other bills which
had to come first. I don’t know what to do about this, as I am 100% disabled, very low income
and do not want to lose my home. I have lived in this house all my life except when I was married.
Is there any way I can get some help with this? I don’t know who to turn to. The Dept of Revenue
was unable to help me either. I know I qualify for Medicaid and Food Stamps. What do you
suggest I do? Thanks for your help.
Hi Linda,
I’m sorry to hear about your situation and hope that you find a way to get through it. Unfortunately I do not know of much in the way of help that is available for people that cannot pay their property taxes, but here is what I am aware of:
The State of Missouri has a Property Tax Credit available to seniors and disabled persons that meet the income criteria…through this program you can get a credit back for up to $1,100 of property taxes you have paid….Information on qualifying can be found at:
http://dor.mo.gov/tax/personal/ptc/proptax.pdf
I realize you have not PAID your taxes from 2009, but I think have up to 3 years to apply for this credit, so perhaps, you can apply for prior years you were eligible and did pay your taxes and then use that refund to pay your current taxes? Or, maybe if you knew you were going to get the credit back you could put the money together to get the taxes paid, then immediately apply for the credit? The link to the main page for the program is:
http://dor.mo.gov/tax/personal/ptc/
It sounds like you may not have a mortgage on your property and may be a senior? If so you may want to look into a reverse mortgage? That is something that many seniors use when they find themselves with plenty of equity in their home but short on cash. As with any other major transaction as this you should fully research it though and consult people you trust to be sure it would be good for you in your situation…if a reverse mortgage is right for you it may give you the opportunity to get cash out of your home to pay your taxes, medical bills, etc, or even have a monthly “income” from you home to supplement your income. I wrote an article about reverse mortgages a while back that has a lot of information at the link below:
http://stlouisrealestatenews.com/financing/reverse-mortgages-pave-the-way-to-financial-freedom-for-many-st-louis-seniors-not-for-everyone-though/
The only other thing I can think of, is you didn’t say what county you are in, but I would call the assessors office in your county, explain your plight and see if the county you are in has any programs available to help.
Good luck and God Bless,
Dennis
Hi I just purchased a house and I need info on the tax credit off first year taxes . I need the forms to fill out so I can submit these forms When closing on my house the lender didn’t know anything about this tax so if you can let me know where I need to go to get these forms and submit them or what I need do that really help thanks Tammy
Hi Tammy
Congratulations on your home purchase! Thanks for bringing this up, the state did not have the forms prepared when I did the first two articles but they are done now…I just did an update on the article with links the the forms, instructions and samples…Good luck, Dennis
Hi I emailed you and you responded thanks for that but now the site wont show the instructions or info on the program and I also cant pull up the sample forms help! please thanks
Tammy, sorry about that…I had a couple of bad links, everything is fixed now and I tested all the links so you should be good to go…have a good day, Dennis
Hi its me again I purchased a rehabbed house how can I see if it qualifies for the additional $500 dollars acentive.
here is my email sorry did not leave it before
Hi Tammy
Here is a link to some information on the program..in looking this over it is clear that if you buy a NEW home that has qualify energy efficient items or if YOU make improvements to a home within 60 days of purchase you are eligible, but it’s not clear about buying a remodeled home that had improvements…logic would say it should be eligible, but logic doesn’t always prevail when it comes to the govt
http://stlouisrealestatenews.com/hope-info-instructions.pdf
Here’s a link to the application:
http://stlouisrealestatenews.com/Form_700_rev20100421.pdf
Well, now that I have reviewed the applications to apply for the credits I’m thinking you may not qualify …there is a form (710) for new construction in which the builder has to sign and certify he built the house NEW and included energy efficient items…the other form (715) is for purchasers that bought a home then made improvements and you have to itemize what you added to the home….it sort of appears your situation is not covered although if you can find someone at the state level to ask it would be worthwhile…here is a link to all the sample forms for the program;
http://stlouisrealestatenews.com/hope-samle-forms.pdf
Good luck,
dennis