Missouri state auditor found Missouri did not over tax citizens
JEFFERSON CITY, Mo. (August 17, 2022) — Missouri State Auditor Nicole Galloway today released a report detailing the office’s annual review of state compliance with the state constitutional limits on taxing and expenditures, commonly known as the Hancock Amendment. The 1980 amendment to the Missouri Constitution restricts the amount by which fees and taxes can be increased and also limits the amount of personal income used to fund state government.
The Hancock Amendment limits the amount of Missourians’ income that may be used to fund state government to no greater than the portion used to do so in 1981, except as authorized by a vote of the people. For the 2021 fiscal year, total state revenue was approximately $3.8 billion under the refund threshold. As a result, the state was found to be in compliance. Missouri has not exceeded the limit since 1999.
The Hancock Amendment also limits the amount the General Assembly may raise taxes or fees through new legislation without a vote of the people. Taxes and fees were projected to increase by $24.5 million, which is under the taxes and fees increase revenue limit of $111.8 million.