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Jefferson City, MO (2009-12-21) Despite warnings of funding entitlements with a looming budget crisis in Missouri, the state's Housing Development Commission has approved a measure to increase the number of new home owners across the state.
The provision will use 15 million dollars in reserve funds to cover the cost of property taxes, up to 12-hundred 50 dollars- for first-time home buyers next year who earn less than 98 thousand dollars a year.
Republican Lieutenant Governor Peter Kinder sits on the commission cast the lone "no" vote.
But commission chair and State Treasurer Clint Zweifel says it will help Missourians in a tough economy.
The provision starts January first.
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