The most popular idea for controlling property tax bills, the chairman of a Missouri House committee said Monday, is to set a separate tax rate for each of four types of property subject to the annual adjustments required in the state Constitution.
Since June, the Missouri House Special Interim Committee on Property Tax Reform has been holding hearings around the state and discussing legislation it could propose to quiet outrage over rapidly rising residential tax bills. One of the most popular ideas, said chairman state Rep. Tim Taylor, R-Bunceton, is to "silo" the four types of property -- agricultural, commercial, personal and residential -- so increases in assessed value in one subclass are not diluted by stagnant values in another.