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Tax break for sawmills approved

Tax break for sawmills approved

May 5th, 2011 in News

JEFFERSON CITY (AP) - Missouri lawmakers have approved a tax break for sawmills.

The measure classifies mills where timber is planed or sawed as agriculture and horticultural land rather than commercial property.

Agricultural land is assessed at 12 percent of its productive value for property tax purposes, compared with 32 percent of market value for commercial property.

The change could save Missouri sawmills about $4 million a year in property taxes. Proponents say it could provide a boost for a timber industry that needs a little help.

The House gave the measure final approval on a vote of 129-24, sending it to Gov. Jay Nixon.