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MO Personal Property Tax

MO Personal Property Tax

I have a 2018 Tesla Model 3 Long Range RWD. I received the personal property tax bill with car valuation at 14,670.
Since this is the first year they are assessing model 3, I am wondering if they did it correctly. Did any one from MO state got same valuation?

bjrosen | 11 december 2019

Don't look a gift horse in the mouth.

jimglas | 11 december 2019

look a tad low in valuation

sumya | 11 december 2019

(October Issue - NADA Average Trade-In Value) / 3 = Assessed Value
They use this formula and I am wondering if they did it correctly.

madkim23 | 11 december 2019

I'd keep my head down. In VA, my 2018 LR RWD was valued at $45,060 for this year. They use NADA as the primary valuation guide, but it did not provide a clean trade in value this year, so they used Black Book instead, which did not provide an accurate valuation. I like your assessor better! :)

tsitter | 11 december 2019

The personal property tax is based on 1/3 of the NADA vehicle value.

From St. Louis Assessor's website (https://www.stlouis-mo.gov/government/departments/assessor/personal-prop...):
Personal property is assessed at 33 and one-third percent (one third) of its value.
Example: $15,000 market value / 3 = $5,000 assessed value
Taxes are imposed on the assessed value.
Vehicle values are based on the average trade-in value as published by the National Automobile Dealers Association (RSMo 137.115.9) [www.moga.mo.gov].

Magic 8 Ball | 11 december 2019

Do you guys pay property tax in lieu of annual registration fees?

madkim23 | 11 december 2019

@Magic 8 Ball - No, this is separate from DMV inspection and registration fees. Some states have a car tax. In VA, our real estate taxes are very reasonable, relative to house values, but with the added personal property tax, it isn’t in your financial interest to buy new cars or you pay a steep bill.

With the changes in the federal tax law, many are no longer itemizing due to the large standard deduction and limit on state and local income, real estate, and personal property taxes, so many are not able to deduct their car tax payments like they used to. Further disincentive to buy a new car, but still not stopping the thousands of us getting new Teslas in the state.

Magic 8 Ball | 11 december 2019

@madkim23 Thanks. They used to have that in CA but dropped it in favor of just annual registration which is steep. We also do not have inspections.

madkim23 | 11 december 2019

Our inspection and registration fees are cheap. I guess each state has their own ways of getting the revenue they need.

andy.connor.e | 11 december 2019

I've never seen a car tax like this before. NY at least in my experience, only has the registration fees.