Panel Freezes Farm Tax

1 decade 4 years 3 months ago Friday, December 30 2005 Dec 30, 2005 Friday, December 30, 2005 8:00:00 PM CST December 30, 2005 in News

The state Tax Commission made the decision this week, hoping to ease some of the financial stress on Missouri agriculture.

When it comes to farming in Missouri in 2005, one thing is certain.

"It's been a very severe year for Missouri agriculture," said Abner Womack of MU's Research Institute. "In fact, the majority of farmers have had a very bad year." 

There are a number of reasons why Missouri crops struggled this year, including bad weather and the rising cost of fertilizer and fuel.

"If this freezes the land values for all property taxes for a year, that'll help the famers, especially row crop farmers who had a rough year this year," said Callaway County farmer Joe Shryock.

By freezing farmland values, property taxes should stay the same or even drop.

Missouri's tax commission hasn't raised farmland values since 1995.

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