Proposes a constitutional amendment granting property tax exemptions to certain disabled veterans
This resolution, if passed, would considerably alter the state's taxation landscape by removing certain tax obligations related to personal property for a specified group of veterans while also addressing the property of businesses and public entities. The exemption would potentially lead to significant fluctuations in local taxation revenues, prompting counties to reassess and adjust their tax structures accordingly. The inclusion of restitution measures for lost revenue to affected taxing authorities indicates an effort to mitigate adverse financial impacts resulting from these exemptions.
HJR89 is a House Joint Resolution introduced by Representative Gray, which seeks to amend the Constitution of Missouri regarding property tax exemptions for certain groups, especially disabled veterans. The proposed amendment aims to repeal Section 6 of Article X and adopt a new section that would grant property tax exemptions to various categories of property, notably those held by manufacturers, refiners, distributors, and retail merchants, under certain conditions based on disability ratings. Furthermore, it also includes provisions for household goods and personal items to be exempt from taxation.
Notably, discussions regarding HJR89 have revealed a mix of support and concern among legislators and the public. Supporters argue that it's a necessary recognition of veterans' sacrifices, particularly those with disabilities, and would suit efforts to provide them with relief. However, there are opponents who express concerns about the implications for local revenue, suggesting that such amendments could lead to increased pressure on remaining taxpayers or services as a result of diminished property tax income. The impact of such policy on local budgets and services contrasts sharply with the intended benefits proposed by the bill.