The movement has been started in the legislature to throw out a tax cut for Missouri farmers who have about 65 percent of Missouri’s farmland.
Senator Bill Stouffer’s resolution would reject a state tax commission proposal to increase productivity values on about 35 percent of Missouri farmland. The state tax commission says proposal, however, would reduce productivity values on 65 percent of farmland.
Missouri farmland is valued for its productivity rather than its market value. Productivity value is about 20% of market value.
Stouffer has trouble responding to questions about his planned rejection of the tax cuts but says this is no time for any tax increases. He does not want to say that he is recommending people in line for a tax cut should not get it. .
The Farm Bureau support Stouffer’s resolution, which needs to pass both houses of the General Assembly to block the commission recommendations. The commission made its recommendation in mid-December based on a 15-year study of average land values. The study was done for the commission by the University of Missouri’s Food and Agriculture Policy Research Institute.
USDA figures show increased corn and production in Missouri in 2009. Corn production totalled 446,760 million bushels, up almsot 65.2 milion bushels from 2008. Average yield was 153 bushels per acre, up 15. The soybean harvest totaled 14.25 million bushels, an increase of 39.4 million from 2008 with an average yield of 43.5 bushels per acre, an increase of 5.5 bushels per acre from the 2008 crop.
Listen to the news conference with Sen. Stouffer, Farm Bureau Lobbyist Leslie Holloway, Norborne farmer Cal Durham, and Rep. Brian Munzlinger of Williamstown. 16:43 mp3 farmtax7