There is currently no automatic age-based exemption that eliminates personal property taxes in Missouri for seniors. Items like vehicles, trailers, boats, and business equipment remain subject to taxation regardless of a person’s age.
What the Law Says
Missouri law does not exempt seniors from personal property tax based solely on age. This means even residents aged 62, 65, or older must continue paying taxes on their taxable personal property unless they qualify for other relief programs.
While personal property tax relief is limited, the state has introduced a real estate property tax freeze that benefits senior homeowners. This was made possible by legislation passed in 2023, allowing counties to freeze the real estate tax bills for eligible seniors. However, it is important to note that this freeze applies only to real estate taxes—not personal property tax.
Real Estate vs. Personal Property Tax
The real estate property tax freeze, available in participating counties, is open to senior homeowners aged 62 and older who occupy their primary residence. Once approved, their real estate tax bill remains at the same level year after year, even if property values or tax rates increase.
This helpful program offers stability for older homeowners, but it does not extend to personal property, such as vehicles or boats. As a result, seniors will still receive annual tax bills for any personal property they own.
Proposed Changes and Discussions
Missouri lawmakers have proposed various bills in recent years to offer broader tax relief to seniors, including potential personal property tax exemptions for residents aged 65 and older. However, as of now, these proposals have not become law.
Any change to personal property tax rules for seniors would require approval through both the legislative process and, in some cases, a public vote.
What Seniors Can Do
While no current law stops personal property taxes at a specific age, seniors can:
- Apply for the real estate tax freeze in counties where it’s available
- Monitor local legislation for changes to personal property tax laws
- Explore income-based tax credit programs like the Missouri Property Tax Credit (also known as the Circuit Breaker)
Conclusion on Senior Personal Property Taxes in Missouri
There is no specific age at which seniors stop paying personal property taxes in Missouri. However, other forms of relief—especially for real estate—are available and expanding at the county level. Seniors should stay informed and take advantage of programs that may help reduce their overall tax burden. If you are unsure about your taxation responsibilities, contact Dimov Tax today. Our team of experts is ready to offer professional assistance.