The state tax commission thinks the property tax values of some ag land should be increased, but some state lawmakers want to reject that recommendation.
Senator Will Kraus says an increase now would be poorly timed.
“Farm income is down over multiple years and most commodity prices are below the cost of production,” said Kraus. “If you look at the current situation right now with the flooding, and that we don’t even know the damage that’s being done right now and the impact it’s going to have on Missouri farmers, those are the two basic reasons why we think it’s not a good time to raise property taxes on farmland.”
Senator Mike Parson wants to encourage more people to get into farming, and says letting those values increase would do the opposite.
“If you’re a young man in your 20s, and you went out there and you said, “Okay, I’ve gotta go buy land, I’ve gotta go buy cattle, or I’ve gotta put plants in the ground,’ and the equipment, it’s a huge hill to climb to get started,” Parson told Missourinet.
A Senate committee will consider Tuesday morning Parson’s and Kraus’ resolutions to reject the proposed increase. A similar resolution has been filed in the House by Representative Bill Reiboldt (R-Neosho).
The Tax Commission proposed increasing the value of the best producing land by about 5-percent, or less than 6-cents an acre.
Ag land values were increased last year – the only increase since 1995.