Missourians continue to pay a much higher annual property tax bill on their used vehicles. A Missouri legislative fix for these rising bills is on tap for 2024.
Rep. Rodger Reedy, R-Windsor, has pre-filed a bill that would stabilize these values.
“I’ve had people tell me, ‘Well you know you’re trying to crack the problem that’ll probably never happen again.’ But in our time anything could change,” Reedy told Missourinet. If we’re going strictly off the used car market, you know, we could have things that would affect them greatly.”
The taxes pay for local priorities, such as school districts, libraries, and fire protection districts, among other things.
“That just does not make good logic sense to raise those values and charge those taxpayers more taxes on a vehicle that I always say it’s a year older, it’s probably got 30,000 more miles on it. It’s pretty hard to say it’s worth more money than it was the year before for tax purposes,” said Reedy.
The Missouri Legislature’s 2024 session begins Jan. 3.
Copyright 2023, Missourinet.