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Mo. House panel OKs business property tax break

Mo. House panel OKs business property tax break

September 8th, 2011 in News

JEFFERSON CITY, Mo. (AP) - A Missouri House committee has endorsed legislation creating a property tax break for businesses destroyed by a natural disaster.

The measure endorsed Thursday allows for removal of disaster-damaged buildings on commercial property from local property tax rolls until the structures can be used again. The tax break would apply only if the local government approved.

Much of Missouri has seen damage from natural disasters this year, including major flooding and the tornadoes that struck Joplin, Sedalia, the St. Louis area and elsewhere.

Many counties already allow homes to be removed from the tax rolls if a natural disaster makes them uninhabitable.