Taxes & Incentives

Dunklin County's assessed value for commercial real property is 32%. Personal property is 33 1/3%. Dunklin County property taxes are $4.8589 per $100.

The state of MIssouri has designated Kennett as Enhanced Enterprise Zone (EEZ) #24, located within District #8, representing the southeast region.  In turn, the Kennett EEZ has worked with the state to create a favorable atmosphere for qualifying businesses, by offering 12 different tax incentive programs.  Those programs, and their details, are as follows:

• Dunklin County Tax Lien Credits
• Enhanced Enterprise Zone Tax Credits
• Film Production Tax Credit Program
• Loan Guarantee Fee Tax Credit Program
• Mutual Fund Tax Apportionment
• "Quality Jobs" Program
• Real Property Tax Abatement
• "Rebuilding Communities" Tax Credit Program
• Sales Tax Exemption
• Small Business Incubator Tax Credit Program
• Wine and Grape Tax Credit Program
• Workforce Incentive Training

Dunklin County Tax Lien Credits
Dunklin County land and lots with two or more years of delinquent taxes may be offered at public auction.  Each parcel is classified under a specific publication: 

1. First and second publications have a one-year redemption period;
2. Third publications have a 90-day redemption period;
3. Fourth publications have no redemption period.  

Property that does not sell after the third- year sale may be sold at the county Collector's office.  Interest on tax certificates is paid at 10 percent annually on the amount of delinquent taxes only, not on any overbids. Subsequent taxes earn eight percent annually.

Enhanced Enterprise Zone Program (EEZ)
This program provides state tax credits to new or expanding businesses in Kennett's Enhanced Enterprise Zone.

Film Production Tax Credit Program
This program provides a state income tax credit to qualified film production companies, up to 50% of the company's expenditures in Missouri, for production or production-related activities necessary for the making of a film (not to exceed $1 million in tax credits, per project).

Loan Guarantee Fee Tax Credit Program
This program provides state tax credits to eligible small businesses for the amount of a guaranteed fee, paid to either the U.S. Small Business Administration or the U.S. Department of Agriculture for the purposes of a small business loan.

Mutual Fund Tax Apportionment
This system stimulates the mutual fund industry in the state by allowing those certified by the Missouri Department of Economic Development (MoDED) to utilize a more favorable state income apportionment method for tax assessments.

"Quality Jobs" Program
This program facilitates the creation of specific new jobs by targeted business projects.

Real Property Tax Abatement
A real property tax abatement is available for 10 years. The percentage of abatement is based on the number of new jobs created, as follows:

• 10-25 New Jobs - 50% 
• 25-49 New Jobs - 60%
• 50-74 New Jobs - 70%
• 75-99 New Jobs - 80%
• 100-149 New Jobs - 90%
• 150 and More New Jobs - 100%

"Rebuilding Communities" Tax Credit Program
This program helps stimulate eligible business activity in Kennett by providing state tax credits to qualilfying businesses that locate, relocate or expand their within the city.

Sales Tax Exemption
Machinery and equipment used to establish a new manufacturing facility, or to expand an existing facility, is exempt from local and state sales and usage taxes, as long as that machinery and equipment is used to manufacture products ultimately intended for sale.

Small Business Incubator Tax Credit Program
The Missouri Department of Economic Development (MoDED) may issue a 50% state tax credit to a taxpayer who makes a contribution to an approved incubator sponsor within the state.

Wine and Grape Tax Credit Program
This program assists vineyards and wine producers with the purchase of new equipment and materials by granting a state tax credit for a portion of the purchase price.

Workforce Incentive Training

• Financial Assistance Customized Training Program:
  This program provides training assistance for employers who are hiring and training workers for newly-created jobs, or retraining workers as a result of new capital investment.   Because it's a customized program, it can also assist with your specific training needs.
• New Jobs Training Program:
  This program provides training assistance for employers with a sound credit rating who are creating a substantial number of new jobs.  Local community colleges initially finance training through the sale of certificates.  The certificates are repaid by using tax credits from the employer's regular tax withholdings that are based on a percentage of the gross wages paid to the employees in the new jobs.
• Welfare-to-Work:
  This program provides a financial incentive for employers to hire long-term Welfare recipients.
• Work-Opportunity Tax Credit:
  This program provides a tax credit for employers who hire low-income residents.

Additional details on these programs and incentives may be found at: http://ded.mo.gov/BDT.aspx