State Unveils New Property Tax Program

Eligible homebuyers will have less to worry about it when it comes to property taxes next year.

Under a new property tax relief program, the state will pay up to $1,250 of the property tax for Missourians who earn less than $98,000 a year.

Gov. Jay Nixon and the State Treasurer Clint Zweifel presented the program as a tax relief proposal to the Missouri Housing Development Commission. It approved the proposal by a vote of seven to one.

Nixon’s spokesman Scott Holste said he thinks the program will encourage Missourians to buy houses.

"We think this can be a vital part of stimulating home buyership and home building as well by providing this type of property tax relief," Holste said.