Missouri Law Benefits Residents, Not Businesses
JOPLIN - According to Missouri Law, residents may have their homes re-evaluated after a disaster strikes to have their property value adjusted. This gives residents a break so they only have to pay property tax on the current value of their property.
For example, if a home is completely destroyed, that value of the property is almost zero so the resident pays tax on that value.
This is not the case with businesses. According to Representative Bill White from Joplin, there is no provision in Missouri law businesses to do the same.
Businesses must continue to pay property tax even though the property might be completely destroyed and try to rebuild at the same time.
White told KOMU that lawmakers are working to try and change this law, but the problem is some places depend on property tax to be funded.
One of these businesses is the Duquesne volunteer fire department. The department is completely funded by property tax and would struggle, according to White, if property tax was eliminated for businesses.
White said something would have to be changed for places like the fire department so it received a special allocation from the government.