| Missouri property tax breaks expanded
Missouri lawmakers have passed a measure aimed at providing relief from large property tax increases. The bill would ensure governmental entities reduce their tax rates whenever the assessed property values rise by more than the rate of inflation. It also expands property tax breaks to low-income and middle-class seniors and disabled homeowners. Missouri lawmakers have also approved millions of dollars in agriculture tax breaks. It provides tax credits, exemptions and grant programs for farm equipment, fencing materials, gas stations, ethanol producers and dairies. The bill also makes an animal ID program voluntary. .
CNY Assembly republicans petition for gas tax relief
In the hopes of forcing the Assembly Democrat Majority to stop delaying and finally join the State Senate in enacting a "summertime holiday" from state gas taxes for motorists, central New York Assembly Republicans announced Thursday the launch of a statewide, grassroots petition drive aimed at building public support for the measure. The Assembly GOP are advocating for enactment of legislation — Assembly Bill A.10818 – that would establish a "summertime holiday" from state gas taxes. The holiday would suspend the three separate state taxes on fuel — the 8-cent motor fuel tax, the 8-cent sales tax and the 16-cent Petroleum Business Tax — from Memorial Day until Labor Day, providing a savings of nearly 33-cents per gallon of gasoline and 31-cents per gallon of diesel fuel.
Tax-relief bill could affect schools
JEFFERSON CITY, Mo. — A legislative attempt at property tax relief that may sound like good news to residents is stiffening the necks of local school and government officials. The state would require all cities, counties and taxing districts to roll back rates during reassessment years, under a bill the Missouri House of Representatives passed Tuesday, 147-6. Already endorsed in the Senate, negotiations must take place between the chambers before they can send SB 711 to the governor to sign into law. “We were told by those yard birds they were giving us a property tax reduction," said Rep. Jim Whorton, D-Trenton, the only Northwest Missouri lawmaker who voted against the measure. But he explained that school districts may end up setting levies higher than they need as a result of the changes.
Finance dept fears P12-B loss from proposed tax relief
MANILA, Philippines�The Department of Finance will oppose any proposal for tax relief for all individual taxpayers if Congress will not come up with an offsetting measure that will generate revenue, Finance Secretary Margarito Teves said. Teves said the proposed tax relief passed by the House of Representatives would result in revenue losses of up to P12 billion, which he said the government could not afford at a time it needs to increase spending. The department is amenable to granting tax exemptions to minimum-wage earners, which would cut tax collection by only less than a billion pesos, he said. The House bill to seeks to raise personal exemptions of individual taxpayers to P50,000. At present, individual taxpayers are entitled to P20,000 in personal exemption, heads of families P25,000, and married individuals P32,000.
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