Kansas, Missouri battle over companies

[bobbyhawks]

Good list, and I get your point, but except for the Plaza and Nelson, everything else a highway exit.

True, but not everything on the highway is a treat to get to from College and Metcalf.  That area is a cluster____ every rush hour, and you are still in the land of concrete and Applebee's, which I must say is mighty impressive to clients.

[smh]

I do find most clients enjoy a nice REALBURGERTM when they're in town.

&&

[studentper]

I do find most clients enjoy a nice REALBURGERTM when they're in town.

&&

jeez, i just googled realburger praying that it wasn't a real trademark of applebee's.  sort of begs the question what their other burgers were.

[smh]

jeez, i just googled realburger praying that it wasn't a real trademark of applebee's.  sort of begs the question what their other burgers were.

FAKEBURGERSTM?

[aknowledgeableperson]

Their total tax bill is higher

Another take on the KS/Mo taxes.

http://www.kansascity.com/2010/12/22/25 ... ready.html

•The property tax rate for Kansas City is already higher, in many cases, than the rates for suburbs such as Overland Park, Shawnee and Lenexa.
...
•The overall property tax bills for Kansas City residents — including the payments to school districts, counties and other taxing jurisdictions — aren’t cheap.
...
Consider several examples from this area, while keeping in mind in all these cases that estimated market values don’t necessarily reflect what houses would sell for, and that people live in different cities, counties and school districts for a host of reasons.

All of these cases compare the percent of property taxes paid vs. the stated market value of the house.

For example, my house in Kansas City had a market value of $85,107 for 2010. The city portion of the property tax was $280.70.

So the overall city tax was

0.33 percent of the house’s market value.

Here are some of the city property tax rates in 2010 for other examples:

0.10 percent for an Overland Park house with a value of $212,000.

0.28 percent for a Leawood house with a value of $267,900.

0.28 percent for a Shawnee house with a value of $204,900.

0.29 percent for an Olathe house with a value of $157,600.

0.30 percent for a Kansas City house with a value of $37,532.

0.31 percent for a Kansas City house with a value of $166,940.

0.33 percent for a Fairway house with a value of $330,800.

0.35 percent for a Kansas City house with a value of $576,000.

Of course, the city tax isn’t the biggest portion of a property tax bill. So it makes sense to look at a total property tax amount while examining whether Kansas Citians appear to be over- or under-taxed on their houses.

Unfortunately, they don’t get any big bargain when it comes to overall rates, either.

The overall annual property tax burdens for the residences I reviewed ranged from a low of 1.38 percent of the house price (in Overland Park) to 1.78 percent of the house price (in Kansas City).

That last house was mine, and it was highest on the list because the Raytown School District had the most expensive property tax levy of any other district checked — almost 28 percent higher than the Kansas City School District. And the Kansas City district rate was higher than those for the Blue Valley, Shawnee Mission and Olathe districts in Kansas.

[KCPowercat]

That's not another take......nor is it recent or yours.  Percentage can be lower because the value assessed against is higher...it doesn't change my statement of TOTAL tax burden being higher.

[WyCo]

I live in Kansas, work in Missouri, even taking into consideration the E-tax, the total tax bill for us anyway is way higher living in KS.  Just using income tax, each year I get a refund from Missouri, all of the Missouri income tax can be deducted from my Kansas tax bill, and each year we still owe KS more than the e-tax my husband pays.  (I work in NKC now)  One reason I have thought of moving across the state line.  We are in Wyandotte County, so our property taxes are crazy and the sales tax is higher than hell to go along with the higher income tax rate.

[shinatoo]

So Illinois is raising their tax rate and everyone is freaking out. Our home office is in Illinois and talking to my boss yesterday he was considering moving out of state, like to Wisconson. All the news is talking about is how big a boon this will be for adjoining states. What no one is looking at is the tax rate. WI 6.5%, MN 7.5%, IA 6.48%, Ky 6%, IN 3.4% of adj FGI.

Indiana is the only state with lower taxes even after Illinois raises theirs from 3% to 5%, and Il is based on adj FGI. Do reporters do no research?

[KCMax]

So Illinois is raising their tax rate and everyone is freaking out. Our home office is in Illinois and talking to my boss yesterday he was considering moving out of state, like to Wisconson. All the news is talking about is how big a boon this will be for adjoining states. What no one is looking at is the tax rate. WI 6.5%, MN 7.5%, IA 6.48%, Ky 6%, IN 3.4% of adj FGI.

Indiana is the only state with lower taxes even after Illinois raises theirs from 3% to 5%, and Il is based on adj FGI. Do reporters do no research?

This is why a shift to a VAT or sales tax instead of income will never happen. The first time people realize the price on their everyday products is going up 67% they will flip.

[smh]

Do reporters do no research?

Not anymore.

[aknowledgeableperson]

That's not another take......nor is it recent or yours.  Percentage can be lower because the value assessed against is higher...it doesn't change my statement of TOTAL tax burden being higher.

Did some digging at the Think KC site.
With regards to income taxes an individual has to have roughly $60,000 in "taxable", not gross, income before the income tax becomes higher in KS than MO.  But then, if the individual works in KCMO the E-tax comes into play and that will increase the tax load with regards to income.  So I would think for most individuals they would have a lower state income tax rate living and working in KS than in MO.

For property taxes KS taxes residential at a rate of 11.5% of fair market value, MO taxes residential at a rate of 19% of fair market value.  A listing of misc. tax rates as a percentage of value is as follows:
Lees' Summit          1.66%
Raytown                1.72%
Grandview              1.64%
Kansas City Platte  1.52%
Kansas City Clay    1.58%
Kansas City Jackson 1.50%
Prairie Village        1.33%
Leawood              1.41%
Olathe                  1.44%
Overland Park        1.12%
So for properties with the same fair market value it would appear that property taxes would be lower in KS than in MO.  However, that advantage can be minimized by higher property values in KS.

With regards to sales taxes MO does have an advantage by having lower tax rates plus not taxing foodstuff.  But restaurant and bar sales taxes can be higher in KCMO due to the additional tax for Bartle Hall.  Also, what can make the comparison tricky is additional sales taxes imposed for selected community improvement districts throughout the metro area.

So it is not always clearcut that MO has lower total taxes than KS.  Much will depend on amount of income being taxes, value of real estate, and where one shops and eats. 

[KCPowercat]

Nice research.  Now look at reality. Wyco above gave you an example. 

[aknowledgeableperson]

Yes, WyCo/KCK is the exception not the rule though with regards to property.  For income tax residents of KCMO will always have the higher tax rate (state and local) at 7.5% at the highest. Whether one state or the higher has the higher burden really needs to be looked at on an individual basis and not made a blanket statement.

[KCPowercat]

Ok. Go do your tax return with ks and then mo and let me know.

Again this isn't a secret I'm making up.

[aknowledgeableperson]

For me, personally, the tax burden is lower in Mo since most of my income is from a government pension, part of which is exempt from state income tax.  Take that exemption out and by my rough calculations my state income taxes would be lower in KS than MO, especially since KS has a higher deduction.  And if I treated my income as being earned in KCMO my overall tax burden (Fed, State, Local tax) would increase because of the E-tax to be paid.

[NDTeve]

So you're screwed if you live in WYCO and work in KCMO?

[KCMax]

Not a KS/MO battle...but any reason why Missouri could not get in on this? Is Missouri not in "Region 7"?

http://www.bizjournals.com/kansascity/n ... sible.html

[KCMax]

Midtown  KC lands a supplier from Lenexa

http://midtownkcpost.com/?p=1039

[Highlander]

Not a KS/MO battle...but any reason why Missouri could not get in on this? Is Missouri not in "Region 7"?

http://www.bizjournals.com/kansascity/n ... sible.html

Acc/to the star, there was some kind of an agreement when it moved to Kansas as a Bob Dole Pork Barrel project a couple of decades ago, it would stay in Kansas.  It was in the east part of the Crossroads before it moved to KCK.  In my viewpoint, if it's going to have to stay in KS, let OP get it for a price, it leaves them with that much less resources available to prey on KCMO businesses. 

[KCMax]

Let the bidding war commence!

http://www.bizjournals.com/kansascity/n ... b-for.html