By now, all of us have received their 2005 real estate assessment and are shocked by the increase, especially those of us over 65 or 100 percent disabled.
According to the Missouri Revised Statutes, those over 65 years old or 100 percent disabled qualify for a tax credit if the property is owned as joint tenants or as tenants in the entirety and the assessment increased more than 5 percent. Due to an oversight, this does not apply to those who own the property in a living revocable trust.
Rep. Walt Bivins, R-Oakville, has introduced House Bill 816 that corrects this oversight. Please, please everyone contact your state representative to back this bill.
Also contact your state senator asking him to introduce the same bill in the Senate.