Harley L. Bradley, Mississippi County Tax Assessor, wants to inform homeowners that are 65 and older that Amendment 79, which created the $300 property tax credit last year, has an added bonus. Residents that are 65 and older and reside in their home will not have their assessment raised even if the property value goes up.
Bradley explained that this is the second part of Amendment 79. Now that all property assessments are completed, the present assessment will remain the same for homeowners 65 and older until they sell the property.
"This is a good deal for our senior citizens and especially those that are on fixed incomes," Bradley said. "The only way their real estate taxes will go up would be if there is a millage increase or the property owners makes improvements such as additions or outbuildings. Improvements such as paint, roofing, or new siding would not change the assessment."
Bradley also explained that if the property value goes down the property of those in the 65 and older category will also go down. If the assessment goes up again, it cannot be raised on their property until it is sold.
A form is available for property owners to sign. Once the form is signed and returned to the assessor's office, the assessment will remain the same for as long as the homeowner resides at the same location.
Forms are available at the Blytheville and Osceola office. The Blytheville office is located at 200 W. Walnut Street and the Osceola office is located at 200 W. Hale, Suite 201. Anyone needing the forms mailed to them can call the Blytheville office at (870) 763-6860 or the Osceola office at (870) 563-2683.
Also, Bradley said that homeowners that failed to fill out the form for the $300 property tax credit last year may do so for the current year. He explained that this tax credit is for all homeowners of all ages. Income is not a factor. The property must be the principal place of residence for the owner.