Kinder endorses real estate tax ballot measure

Tuesday, October 26, 2010 ~ Updated 10:16 AM

JEFFERSON CITY, Mo. (AP) -- Missouri's lieutenant governor is supporting a ballot measure to ban real estate transfer taxes.

Republican Lt. Gov. Peter Kinder says the proposal is needed to prevent possible tax increases.

The question on the Nov. 2 ballot would 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 the tax but other states do. The state's real estate agents are supporting the ballot measure.

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