MO Bill Would Reduce Property Taxes for Sawmills
CAPE GIRARDEAU, Mo. (AP) -- Taxes could be sliced significantly for Missouri's sawmills. But it could come at the expense of some public school districts.
Legislation that has passed the Missouri House and Senate in different versions would reclassify sawmills as agricultural property. That would mean they would be assessed at 12 percent of their productive value for property tax purposes, instead of 32 percent of market value as commercial property.
The change could save Missouri sawmills about $4 million in taxes annually, costing schools and local governments an equalamount.
The U.S. Department of Agriculture ranks Missouri third in the nation based on economic effects of forestry. Most of the state's more than 400 sawmills are in south-central Missouri.