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Missouri lawmakers block higher taxes on some farmland

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Missouri lawmakers block higher taxes on some farmland

JEFFERSON CITY, Mo. (AP) – Missouri lawmakers are blocking a tax increase on the state’s most valuable farmland. The Senate voted 29-2 on Thursday to reject the State Tax Commission’s plan to raise some agricultural tax values for 2017 and 2018. The House passed the same resolution last week on a 133-24 vote. It does […]

Missouri lawmakers block higher taxes on some farmland

JEFFERSON CITY, Mo. (AP) – Missouri lawmakers are blocking a tax increase on the state’s most valuable farmland.

The Senate voted 29-2 on Thursday to reject the State Tax Commission’s plan to raise some agricultural tax values for 2017 and 2018. The House passed the same resolution last week on a 133-24 vote. It does not need the governor’s signature.

Property taxes on Missouri farms are based on their productive value, not market value.

The productive value on the best 35 percent of farmland would have increased by 5 percent if lawmakers didn’t block the proposal by early March. Republican Sen. Mike Parson said the timing wasn’t right for more taxes on farmers. Some House Democrats said the extra money could have gone to underfunded schools.

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