The State Tax Commission has proposed increasing the value of the best producing farm land by about 5%. Senate Ag Committee Chairman Brian Munzlinger (R-Williamstown) expects his chamber to agree with the state House and block a proposed increase in ag land property tax values.
Munzlinger said the timing would be bad. Values were increased last year – the only increase since 1995.
“With all the disasters we’ve had and the flood issues, 2015 was not a really good year for agriculture in Missouri,” said Munzlinger. “They can only look at a 15-year rearview mirror, which, I like to look ahead. Things don’t look that good with the price of crops are half of what they’ve been and the price of cattle is in quite a slump.”
The House voted last week to reject the Commission’s recommended increase. Similar resolutions have been filed in the Senate.
Mike Deering with the Missouri Cattlemen said lawmakers from all walks think the increase would be poorly timed.
“A 600 lb. calf today would bring about $500 less than the same calf would have brought just a few months ago,” said Deering. “Given the floods and weather, it’s just not the time for a tax increase.”
The state Tax Commission based its recommendation on those of the University of Missouri’s Food and Agricultural Policy Research Institute.