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MISSOURI STORAGE OWNERS MEET IN JEFFERSON CITY ON PROPERTY TAX ISSUE

Over 60 Missouri self storage owners traveled to Jefferson City, Missouri on March 26, 2008 to participate in a meeting that one day may lead to property tax relief for self storage owners in this state. 

The meeting, organized by the Missouri Self Storage Owners Association, was the first of its kind in the history of the 9 year old state association.  While the association has been successful in passing several pieces of beneficial legislation for Missouri storage owners, as well as having defeated several very negative proposals, it has never had to involve the entire industry.

The issue of property tax relief is an entirely different matter, according to Steve Hurst, the association's Executive Director and Lobbyist.  "To pass any legislation of this type, storage owners throughout the state must get involved and contact their legislators."

Details on contacting one's State Legislators was one of the major subjects discussed at the meeting along with a briefing on how property taxes are assessed on various types of real estate in Missouri. 

Hurst pointed out that real estate taxes are based on three separate types of property.  First is residential, second is commercial and third is agricultural.  For many years, multi-family housing was assessed at the same rate as commercial, Hurst explained.  That rate was at 32% assessed value. 

"However," Hurst said, "several years ago, apartment owners were able to convince state law makers that they were no different than single family residences, and should be assessed accordingly, at 19% of assessed value.  Lawmakers agreed and passed a law setting multi-family apartment assessments at that level."

"Their logic was," according to Hurst, "that citizens living in single family residences were no different than citizens living in multi-family housing.  Now consider what people store in self storage facilities," Hurst said.  "Most of the property stored in self storage facilities is personal property owned by people who live in single family residences and/or multi-family dwellings.  This is the "Key" issue that must be presented by Missouri storage owners to their Representatives and Senators.  We believe that storage facilities should have the same assessment rate as apartments." 

MSSOA President Dale Jordan, welcomed and praised the attendees for their attendance at the meeting and thanked those who have made financial contributions  to the effort.  He told the group that additional information would follow on the MSSOA website as the plan develops.