Taxpayers should know that assessment limits won’t solve a spending problem.
Kansas lawmakers have ushered in substantial taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. reform over the past few years, but legislators say the state still has more work to do. Specifically, Topeka is eyeing property taxA property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and equipment. Property taxes are the single largest source of state and local revenue in the U.S. and help fund schools, roads, police, and other services. relief.
Policymakers are right that Kansas has an opportunity to reform property taxes while providing long-term relief. But one idea gaining traction in the statehouse — which would introduce assessment limits that artificially cap valuation increases — would be a step backward. As currently drafted, one proposal would increase the burden on farmers and businesses, and neither assessment limit proposal would prevent local taxing jurisdictions from simply recouping the lost revenue by raising property tax rates.
This is a preview of our full op-ed originally published in The Wichita Eagle.
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