The fiscal problem in Missouri

Bibliographic data

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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. The Missouri tax system

Collection:: Economics Books

B4 THE FISCAL PROBLEM IN MISSOURI of association or incorporation. Additional taxes must be paid when the capital stock is increased. The real and personal property of the state, counties, and other municipal corporations, and of cemeteries is exempt from taxation by constitutional provision.! Lots and the buildings thereon used exclusively for religious worship, for schools, or for charitable purposes may be exempted from taxation by general laws. A lot thus exempted may not exceed one acre, when located in a city or a town or within a mile of the limits of a city or town. A maximum of five acres is permissible in all other cases. Real and personal property used exclusively by agricultural or horticultural societies may also be exempted by general law. All laws exempting property other than that which has been ex- empted by constitutional provision are specifically declared to be void.2 Provisions Concerning State Tax Rates The state tax rate on taxable property is definitely limited by the constitution. Section 8 provides that the state tax on property for ordinary purposes, exclusive of the tax necessary to pay the bonded debt of the state, shall not ex- ceed $0.20 per $100 valuation, and that the maximum shall be $0.15 per $100 valuation whenever the taxable property of the state shall amount to $900 million. The latter figure has long since been exceeded, and the $0.20 per $100 maxi- mum has therefore not been effective for many years. Section 14 provides for the levying and collecting of an annual tax sufficient to pay the accruing interest on the bonded debt of the state and to reduce the principal by an amount not less than $250,000 per annum. In addition to the provisions concerning property tax rates for state purposes, the rates for the organization tax are specifically mentioned in the constitution? As this tax is treated fully in a later section, it is not necessary to con- sider the rates at this point. Other sections of the constitution refer either directly or indirectly to tax rates and taxation for state purposes. For 1 Section 6. The property owned by the Federal Government, of course, is exempt. ? Section 7. 3 Section 21.

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