The Evidence is in for Property Tax Reform
An op-ed for the St. Louis Post-Dispatch points out the flaws that Sen. Michael Gibbons needs to address in his efforts to reform the property tax system in Missouri next year. These range from cases of both over- and under-assessment of property in some counties, to the fact that there are different techniques for assessing property, which causes disparities in the amount people pay. There are many signs that the current system has failed Missouri taxpayers.
Property taxes have a huge effect not only on our pocketbooks, but also on how school districts receive state aid:
Such variations obviously are unfair, especially when it comes to
school funding. The state’s complicated formula for calculating the
funding of public schools is based on the wealth of a school district
as measured by its property assessments in 2004. The lower the assessed
value, the more state funding a district receives.
Sen. Gibbons is on the right path in calling for property tax reform. The system is riddled with mistakes that have been known for years, and cannot be overlooked any longer. Missourians want to know that they are being taxed fairly and honestly, and to make sure that they are paying no more than their fair share to their localities.