Mo. House Approves Business Property Tax Measure

7 years 1 month 6 days ago Friday, September 09 2011 Sep 9, 2011 Friday, September 09, 2011 12:47:00 PM CDT September 09, 2011 in News
By: Associated Press

JEFFERSON CITY - The Missouri House has endorsed a property tax break for businesses destroyed by natural disasters.

The House gave the measure first-round approval Friday during the special legislative session. The legislation allows disaster-damaged buildings on commercial property to be removed from property tax rolls until the structures can be used again. Local governments would need to decide to offer the tax break.

Lawmakers on Friday also broadened the legislation to help communities rebuild from natural disasters. Proponents said the measure would allow some state tax revenue collected in designated redevelopment areas to be used for recovery.

Missouri has faced several disasters this year, including tornadoes in Joplin, Sedalia and the St. Louis area and flooding
along the Mississippi and Missouri rivers.

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