In an effort to prevent possible future taxation, a campaign committee has gathered the required number of signatures to place an initiative on the Missouri balllot barring transfer taxes on property sales. On Friday, the state dropped an appeal of a judge’s decision ordering the election.
The measure will ask voters on Nov. 2 whether to amend the Missouri Constitution to prohibit real estate transfer taxes, which typically are charged like sales taxes based on the price of the property.
Missouri does not levy such taxes, though backers of the ballot measure say they are charged in 37 states and the District of Columbia.
Dan Chipley of Chipley and Company owns land, residential and commerical property in Boonville and is a member the Missouri Association of Realtors, which has backed the initiative. He considers the transfer tax to be double taxation and thinks politicans could be tempted to impose it because of declining revenues.
BDN reporter Eric Berger contributed to this report
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