Audrain County tax officials warn residents about 2022 personal property taxes

Story by Matt Pilger, editor

Audrain County tax officials are warning residents will owe more money in personal property taxes this year due to used cars increasing in value during the pandemic.

In a typical year personal property taxes on vehicles in Missouri decreases as vehicles age, however for a secnd straight year this will not be the case.

“Personal property taxes have gone up due to the resale value of vehicles increasing,” Audrain County Collector of Revenue Kate Becker said. Becker went on to say “In 2020 I was charged to collect $6.2 million in personal property taxes. In 2021 that increased to $6.6 million and in 2022 that is up to $8.2 million. Becker provided some examples of the increases. A 2019 Ford F-150 Crew Cab-King Ranch was assessed at $15,330 and the personal property taxes owed in 2021 was $995.76. The same vehicle in 2021 went up in value and was assessed at $16,230 with $1,042.96 owed on personal property taxes. This year the vehicle is assessed at $17,110 and $1,103.18 is owed on personal property taxes.”

Another example provided by Becker was a 2007 Toyota Camry Sedan 4D XLE.
2020- $72.25 owed on personal property taxes.
2021- $70.95 owed on personal property taxes.
2022 $86.64 owed on personal property taxes.

Becker says the reason for the increase is due to automobile manufacturers not being able to produce as many new vehicles due to the chip shortage caused by COVID-19 and that has increased used car markets.

Audrain County Assessor Missy Maupin says “My office assesses trade-in value on vehicles per the October 2021 issue of the National Automobile Dealers’ Association Official Used Car Guide, or its successor publication. It is used for determining true value of motor vehicles described in such publication. For vehicles two years old or newer from a vehicle’s model year, my office may use a value other than average without performing a physical inspection of the motor vehicle. In the absence of a listing for a particular motor vehicle in such publication, the assessor shall use such information or publications which in the assessor’s judgement will fairly estimate the true value in money of the motor vehicle. A vehicle must by twenty years old for minimal assessment.”

Tax bills go out Saturday, November 5th and will be mailed from Spokane, Washington and takes about four to five days to be received.

The tax bills are due Saturday, 12/31/2022. Since this is a Saturday the Audrain County Courthouse will be closed, however payments can still be made online at Payments can also be placed in the drop box on the Jefferson Street side of the courthouse by midnight December 31st, 2022. All payments received in January will accrue late charges.

Read More: Audrain County tax officials warn residents about 2022 personal property taxes

2022-11-05 06:40:48

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