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Wed Mar 13, 2013, 10:46 AM

Mo. Senate panel votes to end renters' tax break

JEFFERSON CITY, Mo. (AP) -- Despite pleas from the poor not to do so, a Senate budget panel voted Tuesday to do away with a longtime tax break for low-income seniors and disabled residents who live in rented homes.

The legislation backed by Democratic Gov. Jay Nixon and Republican Senate leaders would eliminate a tax credit for about 104,000 low-income renters while leaving it in place for a slightly larger pool of homeowners. The $57 million in savings from the abolished tax break would be redirected to mental health care, nursing homes and home-based health and living services that could benefit the disabled and seniors.

The bill, which now goes to the full Senate, would implement a recommendation from a tax-credit review commission appointed by Nixon. That panel said the income tax break, which is intended to partially offset local property taxes, is not as necessary for renters because there is not enough evidence that landlords pass on the full cost of property taxes to renters.

But recipients of the tax break testified Tuesday that it helps them pay for utilities, medical bills, clothing and other daily living expenses.

http://news.yahoo.com/mo-senate-panel-votes-end-123714783.html

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Reply Mo. Senate panel votes to end renters' tax break (Original post)
Sherman A1 Mar 2013 OP
AndyA Mar 2013 #1
RC Mar 2013 #3
Puzzledtraveller Mar 2013 #2
hfojvt Mar 2013 #4

Response to Sherman A1 (Original post)

Wed Mar 13, 2013, 10:55 AM

1. Of course landlords pass on the full cost of property taxes to renters

Landlords take a look at their total cost to own the property. Taxes, maintenance, loan payments, etc., and base the monthly rental charges on that, plus whatever profit they want.

Property taxes are a big expense, landlords certainly do consider them when setting rental rates. This is a ridiculous position to assume that landlords absorb the cost of property taxes, and don't include them when determining the rates they charge for rent.

Is it possible to find more inept people to "represent" us?

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Response to AndyA (Reply #1)

Wed Mar 13, 2013, 11:08 AM

3. Sure is. Look to the West to Kansas.

 

Is it possible to find more inept people to "represent" us?


Missouri is trying to play catch up.

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Response to Sherman A1 (Original post)

Wed Mar 13, 2013, 11:03 AM

2. Ridiculous and despicable

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Response to Sherman A1 (Original post)

Wed Mar 13, 2013, 11:36 AM

4. bad headline

it should read "Missouri Senate panel votes to INCREASE TAXES" full stop.

That's what they hit Democrats with when we try to raise taxes on the rich.

That's what we need to hit them with - their own fucking stick.

Let them try to explain the fine print while we make a ton of noise throwing the "tax increase" mud at them.

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