Missouri voters approve ban on real estate tax

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by Associated Press

KMOV.com

Posted on November 2, 2010 at 9:52 PM

Updated Wednesday, Nov 3 at 8:45 AM

KANSAS CITY, Mo. (AP) -- Missouri voters have approved a constitutional amendment that bans a real estate tax.

The measure approved Tuesday prohibits the real estate transfer tax that is levied when homes, land and other property is sold. The transfer tax is charged like sales taxes based on the price of the property.

Missouri currently does not levy the tax, but other states do.

Critics of the transfer tax contend people already pay property tax on their homes and land. The state ballot measure was backed by the Missouri Association of Realtors.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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