The way county assessors set values for our vehicles could be changing—and taxpayers might be given some new tools to protest those values.
State law requires county assessors to use the National Automobile Dealers Association price guide to determine the value of our vehicles. But assessors say the association is charging unreasonable fees for access to that information.
The state senate has tentatively approved a plan letting assessors and the state tax commission negotiate with several guide publishing companies, then settle on one guide to use for each assessment. Jefferson City Senator Mike Kehoe, a former car dealer, says the guides can differ widely, depending on how they gather their information and how often the information is updated. .
He says the guides won’t differ much on common, mass-produced popular models. But they can vary considerably on specialty or small-production number vehicles.
The proposed law change lets the tax commission approve four national pricing guides for consumers to use and says that if the vehicle owner finds a lower value than the assessor’s figure, the assessor has to go with the lower valuation.
The senate could send the bill to the House this week.