Agricultural Land Values set to decrease for 2019-2020
Christmas came early for the Missouri Cattlemen’s Association (MCA) after the Missouri Tax Commission voted to not increase property taxes for tillable land and a 7 percent decrease in taxes for pasture ground (classified as grades 5-7). Land classified as grade 8 received a 3 percent decrease.
MCA Executive Vice President Mike Deering said the three-member Missouri State Tax Commission sent a signal to all Missourians that the Commission wants to advance Missouri agriculture.
“We want to be the first to applaud the Missouri State Tax Commission on their decision to do everything within their power to encourage growth and expansion in Missouri agriculture,” said Deering. “Agriculture is the state’s economic backbone – the single largest industry in the state generating more than 88 billion dollars annually. There is room for growth and the Commission gets it.”
MCA President-Elect Greg Buckman, who testified on behalf of MCA at the “Agricultural Land Productivity Hearing” on December 5, 2017, said the Commission took a “huge” step to help minimize the tax burden...