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Luetkemeyer tax relief bill crosses finish line

Landmark Staff by Landmark Staff
May 14, 2020
in Local News, Platte County
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M​issouri residents will owe no state income taxes on federal coronavirus stimulus payments now that legislation sponsored by State Sen. Tony Luetkemeyer, R-Parkville, has been approved by the General Assembly. Senate Bill 676, which also reforms the property tax assessment process in Missouri, now goes to the governor for his consideration.

The measure exempts the $1,200 checks many Missourians received through the federal CARES Act from state income calculations. The checks were already free of federal taxes, but were subject to income taxes in Missouri. The legislation also reforms property assessments in Missouri, providing taxpayers adequate time to appeal increases and limiting runaway property assessments.

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“At a time when Missouri residents are struggling to recover from economic hardships, it’s important that they keep every dollar possible,” Sen. Luetkemeyer said. “This legislation addresses several areas of taxation to allow Missourians to keep more of their hard-earned money.”

Originally drafted in response to controversial property tax increases in 2019, Sen. Luetkemeyer amended his legislation to exclude COVID-19 payments from state taxation. In addition to exempting those payments, the bill establishes a new timeline for property assessment notices to ensure taxpayers have time to appeal increases. The bill also requires county assessors to conduct a physical inspection of real estate prior to increasing a property’s assessment more than 15%, and shifts the burden of establishing higher property values to assessors.

Tags: covid-19parkvilleplatte countytaxes
Landmark Staff

Landmark Staff

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