The Missouri Budget Project published an estimate showing that the King City School District stands to lose $500,493 in annual funding should Amendment 5 pass. This is in addition to funding that could be lost if Hold Harmless is done away with. This represents around 7% of King City’s annual budget for the year. Amendment 5 would abolish the State Income Tax and authorize the Legislature to raise sales taxes to offset the losses. The Legislature has not stated how, or if, they would replace these lost revenues.
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