Kansas House Advances Property Tax Relief Bill

Written on February 26, 2014 at 09:53 AM

The Kansas House advanced a proposal that would provide millions of dollars in property tax reductions to two southeast Kansas cement plants, whose property tax assessments have escalated since since the state exempted certain commercial industrial machinery and equipment from property taxes. The exemption began in 2006 in hopes it would spur new business investment and growth in the manufacturing industry. However, cities and counties ended up losing millions in revenue. As a result, county appraisers increased the companies’ taxes by reclassifying what was formerly equipment and making it real estate and subject to taxes.

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Categories: Personal Property, Real Property, Industrial & Manufacturing, Kansas, Coal Mining

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