Missouri Legislature Plows Under Land Tax Proposal
(JEFFERSON CITY, Mo.)—The Missouri Corn Growers Association (MCGA) applauds Missouri legislators today for their overwhelming disapproval of a farmland tax increase proposed by the State Tax Commission. Today’s final vote by the General Assembly prevents a 5 percent tax increase on Missouri farmland.
“With today’s low prices and challenging marketing year ahead, Missouri corn growers can breathe a little easier knowing they will not be hit with another tax increase,” said MCGA President Morris Heitman of Mound City. “Farmers are already facing a bleak outlook for 2016. Net farm incomes are forecast to decrease as much as 38 percent with no signs of rebounding in the immediate future. We appreciate our elected officials’ quick action to prevent further distress.”
The State Tax Commission, per statutory requirement, must propose recommended changes to the rate at which agricultural land is taxed based on the land’s grade (1-8) every two years. This year’s recommendation included a 5 percent increase on farmland grades 1-4, which primarily represents land in crop production and high producing pasture ground.
After recommendations are made, the General Assembly has 60 days to disapprove the proposals through legislative action. Bills to disapprove this year’s proposed increase originated in both chambers, with House Concurrent Resolution 58 sponsored by Rep. Bill Reiboldt (R-Neosho), and Senate versions sponsored by Sen. Will Kraus (R-Lee’s Summit) and Sen. Mike Parson (R-Bolivar).
“The proposed increase could not have come at a more inopportune time,” concluded Heitman. “We are grateful to the sponsors and key leaders which include, President Pro Tem Ron Richard, Sens. Mike Kehoe and Brian Munzlinger, Speaker Todd Richardson and Rep. Jay Houghton, who made the resolution and Missouri producers a priority this session.”
The Missouri Corn Growers Association is a membership organization of farmers dedicated to growing and defending the corn industry. MCGA works in the best interest of farmers on key agricultural issues and fights for pro-agriculture, pro-corn legislation. To learn more about Missouri Corn, or to become a member, visit www.mocorn.org or call (800) 827-4181.
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