Car Property Tax in Missouri
If you own a car in Missouri, you’re required to pay personal property tax each year based on its value. This tax supports local services such as schools, fire departments, and county governments. But how much you pay can vary depending on where you live and how much your car is worth. Here’s how to estimate your bill.
Step 1: Determine Your Vehicle’s Market Value
Every year, Missouri assesses personal property taxes based on what you own as of January 1. Your local assessor uses the National Automobile Dealers Association (NADA) guide or similar sources to determine your car’s market value. It’s not based on what you paid for the vehicle, but rather its estimated worth at the beginning of the year.
Step 2: Calculate the Assessed Value
Missouri applies a fixed assessment rate of 33⅓% to your vehicle’s market value to determine its “assessed value.” For example, if your car is valued at $24,000, the assessed value would be: $24,000 × 0.3333 = $7,999.20
This is the value used to calculate your tax.
Step 3: Apply the Local Tax Rate
Each Missouri county has its own personal property tax levy, which is expressed as a dollar amount per $100 of assessed value. These rates vary depending on your city, school district, and other taxing entities.
If your county’s combined levy rate is $6.75 per $100, and your assessed value is $7,999.20, your estimated tax would be:
($7,999.20 ÷ 100) × $6.75 = $539.94
Step 4: Review Your Tax Bill
Your county collector will mail your personal property tax bill in the fall, typically in November. The tax is due by December 31 of the same year. If you miss the deadline, interest and penalties will apply.
Final Tips
- New residents or those who didn’t own a car on January 1 may qualify for a waiver.
- You can appeal your assessment if you believe your vehicle was overvalued.
- Use your local county assessor’s website to find tax rate details and estimate tools.
Conclusion
To find out how much you owe, multiply your car’s market value by 33⅓%, then apply your local tax rate. This straightforward calculation can help you budget for your annual personal property tax in Missouri. If you are unsure about your property tax obligations, contact Dimov Tax today for professional aid.