Property tax bills have increased by 30% in Missouri

[1srelluc]

Here's why personal property tax bills have a 30% increase across Missouri

A little bit of the article:

ST. LOUIS — It's sticker shock for car owners in Missouri!
Personal property tax bills, which are being mailed to people right now, are way up this year.
Across the Show Me State, the Missouri State Tax Commission reports there is a 30% increase on personal property taxes compared to last year.
Pandemic problems are big reasons for this and now your pocketbook will feel the pinch…..

Availability of new cars have been really constrained by supply chain disruptions and chips, that’s the bottleneck," he said. "There are fewer cars available, new and used, and those prices will increase. It affects the entire marketplace."
Dauphin also said a car usually depreciates once it is off the lot.
That is not the case anymore, which in turn, impacts your personal property tax.
"The value of used cars has increased...no question," Dauphin said.
Determining the value

By state statue, assessors have to use the National Auto Dealers Association (NADA) evaluation method for the average trade-in value.
"We take the VIN number submitted to our office, we plug that VIN number in our system, and it tells us the value. It's a rigid system," Dauphin said.

It's the same across the land from what I'm hearing.....I dread home reassessments next year.

Even with the present slump in home sales due to the higher interest rates home prices have not come down all that much due to limited availability.

That and the assholes in NOtVA/DC burbs are coming out into the hinterlands. There's not been a single family home built in my AO for under 350K for a while now and all the older homes are becoming rentals for investors.

 

[Moonglow]

Enjoy your capitalism.

 

[johngaltshrugged]

Interesting that they are raising them now when the market shows the prices of used cars are down 15% from their high last year.
Housing prices will be dropping since the market once again out paced most peoples ability to afford to buy.
These are direct results of govt policies, as are the rising prices in food, gas & rent.

Now we have the low IQs like moonie claiming this is the result capitalism when it is actually a result of govt interventions that have distorted free markets so they are much closer to a fascist society of Big Brother & giant corporation partnership than an actual market of supply & demand.

 

[Moonglow]

Interesting that they are raising them now when the market shows the prices of used cars are down 15% from their high last year.
Housing prices will be dropping since the market once again out paced most peoples ability to afford to buy.
These are direct results of govt policies, as are the rising prices in food, gas & rent.

Now we have the low IQs like moonie claiming this is the result capitalism when it is actually a result of govt interventions that have distorted free markets so they are much closer to a fascist society of Big Brother & giant corporation partnership than an actual market of supply & demand.

As a property owner, I am enjoying the increased wealth.

 

[MarathonMike]

In Arizona there is a vehicle license tax VLT separate from home property tax. I pay a few hundred bucks a year in VLTs but I pay several thousand bucks for home property tax. If my home property tax goes up 30% I'll be making a personal visit to the county assessor's office!

 

[sealybobo]

Here's why personal property tax bills have a 30% increase across Missouri

A little bit of the article:

ST. LOUIS — It's sticker shock for car owners in Missouri!
Personal property tax bills, which are being mailed to people right now, are way up this year.
Across the Show Me State, the Missouri State Tax Commission reports there is a 30% increase on personal property taxes compared to last year.
Pandemic problems are big reasons for this and now your pocketbook will feel the pinch…..

Availability of new cars have been really constrained by supply chain disruptions and chips, that’s the bottleneck," he said. "There are fewer cars available, new and used, and those prices will increase. It affects the entire marketplace."
Dauphin also said a car usually depreciates once it is off the lot.
That is not the case anymore, which in turn, impacts your personal property tax.
"The value of used cars has increased...no question," Dauphin said.
Determining the value

By state statue, assessors have to use the National Auto Dealers Association (NADA) evaluation method for the average trade-in value.
"We take the VIN number submitted to our office, we plug that VIN number in our system, and it tells us the value. It's a rigid system," Dauphin said.

It's the same across the land from what I'm hearing.....I dread home reassessments next year.

Even with the present slump in home sales due to the higher interest rates home prices have not come down all that much due to limited availability.

That and the assholes in NOtVA/DC burbs are coming out into the hinterlands. There's not been a single family home built in my AO for under 350K for a while now and all the older homes are becoming rentals for investors.

My retired dad called me to say his heating bill doubled. He can afford it but what about all the people who can't? Add to that a 30% increase on property taxes?

And I don't mean to get political but I thought red states had this shit figured out? Maybe on a national level Republicans talk a good game on low taxes but on a state level, taxes are necessary. Someone has to pay. Why not people who own property?

Missouri has 10 electoral votes in the Electoral College. Trump won Missouri again by a 15.4% margin.

 

[sealybobo]

Enjoy your capitalism.

I told them if corporations aren't paying taxes anymore, who do they think the tax burden is going to shift to?

We can't tax corporations! They'll just pass it on to the consumers. Meanwhile look at what the CEO and VP's at those companies make. It seems like they gave all the tax breaks to them. Not to workers or consumers.

 

[sealybobo]

Interesting that they are raising them now when the market shows the prices of used cars are down 15% from their high last year.
Housing prices will be dropping since the market once again out paced most peoples ability to afford to buy.
These are direct results of govt policies, as are the rising prices in food, gas & rent.

Now we have the low IQs like moonie claiming this is the result capitalism when it is actually a result of govt interventions that have distorted free markets so they are much closer to a fascist society of Big Brother & giant corporation partnership than an actual market of supply & demand.

With low interest rates, people were buying homes. The Feds are raising interest rates to slow spending. It's going to hurt.

Here's the impact on your finances. The Federal Reserve on Wednesday again turned to its most potent weapon for subduing inflation, with the central bank boosting rates for a sixth time in 2022.

 

[sealybobo]

In Arizona there is a vehicle license tax VLT separate from home property tax. I pay a few hundred bucks a year in VLTs but I pay several thousand bucks for home property tax. If my home property tax goes up 30% I'll be making a personal visit to the county assessor's office!

And I've heard that works. If you fight it, they'll give in. If not entirely, some. But all the people who don't go fight it?

 

[MarathonMike]

And I've heard that works. If you fight it, they'll give in. If not entirely, some. But all the people who don't go fight it?

I know one old couple who fought their property tax bill and the city PERMANENTLY froze their home property tax bill so it would never increase as long as they owned the house!

 

[sealybobo]

I know one old couple who fought their property tax bill and the city PERMANENTLY froze their home property tax bill so it would never increase as long as they owned the house!

I think that's the way it should be. I purchased my condo for $58,000. Back in the 90's. The place is now worth over $120,000. But maybe I saved up and put a down payment on the place and only made minimum wage. And I made my payments for 30 years but today I still only make minimum wage. Why should my taxes go up so that I am paying taxes on a $120,000 condo? It should stay $58,000 until I sell it. The day I sell it, raise the taxes. But not on me.

This can ruin seniors. Raising their property taxes and heating bills.