The fiscal problem in Missouri

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Monograph

Identifikator:: 1833271335

URN:: urn:nbn:de:zbw-retromon-230042

Document type:: Monograph

Title:: The fiscal problem in Missouri

Place of publication:: New York

Publisher:: National Industrial Conference Board, Inc.

Year of publication:: 1930

Scope:: xvi, 359 S.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VII. The farm tax problem in Missouri

Collection:: Economics Books

THE FARM TAX PROBLEM IN MISSOURI 223 corroborative evidence for the conclusion derived from the former, and the data for owner-operated farms all point to the same conclusion, namely, that taxes on farm property in Missouri are relatively low compared with those in most of the states in the same general section of the United States. Also, the data definitely indicate that taxes on farm property in Missouri are lower than the average for the United States as a whole. Tue Nature oF Missourr’'s Farm Tax ProBLEM Although it has been demonstrated that the general prop- erty tax on farm property in Missouri is low as compared with that in other states, it does not follow that the state does not have a farm tax problem. A later table in this study shows also that the total taxes per motor vehicle are lower in Missouri than on the average motor vehicle in the United States. It might be inferred from the data previously presented and the relatively light motor vehicle taxation in the state, that farm taxation in Missouri is not a problem at the present time. There is a farm tax problem, however, and an attempt will be made in this section to give some indica- tion of its nature through an analysis of the contributing factors. Declining Income, Lack of Flexibility in Assessed Valuations, and Differences in Productiveness In the first place, there is the factor of declining net income from agricultural operations. Since 1920 there have been varied movements in the prices of agricultural products, but on the whole the trend has been downward. In 1930 the net income of Missouri farmers in many sections has been partic- alarly small, as a result of a very severe drought which affected many of the agricultural sections of the state. In such a year it is only natural that a given amount of taxes should constitute a more serious burden than in years of good crops and fair prices. Theoretically, the value of a farm or other property repre- sents a capitalization of income. The income that is capi- talized is not that for one year only, but in arriving at a

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