MO Republican opposed to tax rate changes on agricultural lands - KAIT Jonesboro, AR - Region 8 News, weather, sports

MO Republican opposed to tax rate changes on agricultural lands

JEFFERSON CITY, Mo. (AP) - Missouri Republican lawmakers are opposing a state tax commission decision that could increase taxes on farmers with the best land and cut taxes for those with less desirable land.

The Missouri State Tax Commission last month approved new values for farm land that are used for calculating property taxes. Missouri's farms are divided into eight groups based on land quality. The commission increased the value for the four best categories, lowered values for three lesser categories and kept the worst the same.

Republican Sen. Bill Stouffer, of Napton, said Tuesday that he wants to reject the changes. Stouffer says the agriculture market is too volatile and the timing isn't right.

The tax changes take effect in 2011 unless rejected by the Legislature.

 

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