Source: Reuters and Missouri Soybean Association
Missouri House members rejected a proposal that would have lead to property tax increases on the best farm land and tax cuts for the worst in Missouri, according to Reuters. House members voted 140-15 to reject it. The measure now moves to the Senate.
The Missouri Soybean Association had asked state legislators to reject the decision made by the Missouri Tax Commission to increase land valuations for productive cropland. The Tax Commission's decision would have raised taxes by an average of 11.5 percent on farmland statewide and as high as 29 percent on the state's most productive agricultural lands.