On Jan. 20, 2016, the Missouri House of Representatives passed House Concurrent Resolution 58 (HCR 58), which disapproves the Missouri Tax Commission's recommendation of a five percent tax increase on Missouri farmers and ranchers. The resolution, sponsored by Rep. Bill Reiboldt (R-160), passed with a bipartisan 133-24 vote. The resolution is supported by the Missouri Cattlemen's Association (MCA) and is a priority for members of the association. MCA President Keith Stevens said now is not the time to increase taxes on Missouri farmers and ranchers.
"It would be irresponsible for this association to compromise on yet another tax increase when we have members struggling to even make a loan payment," said Stevens. "The market is volatile and we are seeing a dramatic downward trend that has some family farmers and ranchers in a very difficult situation. Our goal is to provide the safest, most nutritious product to our consumers. We also want to keep food affordable."
The Missouri Tax Commission makes recommendations for tax adjustments on agricultural property every two years. Two years ago, the Commission increased taxes on farm and ranch ground by five percent. This tax hike went into effect in 2015. According to Stevens, the formula used by the tax commission when considering taxes on farm and ranch property does not take into account flooding - or weather of any kind - volatility in the market or the value of the food produced from the land. Stevens said an increase of any rate could prevent expansion and growth in the state's top industry.
HCR 58 now moves to the Missouri Senate for consideration. Sens. Mike Parson (R-28) and Will Kraus (R-8) have filed a similar resolution in the Senate.
"We urge the senate to pass the resolution as quickly as possible," said Stevens. "The legislature has a limited amount of time, according to state statute, to disapprove the Commission's recommendation."
Source: Missouri Cattlemen's Association