Used car sales lead to rise in personal property tax assessment

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(Photo by Justin Sullivan/Getty Images)

ST. LOUIS– Have you checked your personal property tax declaration form this year? The value of your car may have actually gone up this year.

The St. Louis County Assessor Jake Zimmerman warned taxpayers earlier this year to keep a close eye on the declarations because your car may be worth more than expected.

The deadline for the declaration form for St. Louis County were due on March 1. Even if you already turned it in, it may be worth giving a double check.

“Many car values have actually gone up this year because used cars are selling for higher prices,” said Zimmerman in a press release.

He said that can make it especially important for you to check the make, model, and year on the declaration page and make sure the county got it right.

The value of all cars is based on current values from the NADA guide. Value increases are uncommon but are consistent with national trends due to the economic impact of the pandemic.

You can declare your personal property tax online at the St. Louis County Department of Revenue site.

Missouri has personal property tax, but not all states do. A push to gradually eliminate the personal property tax in Missouri failed recently.

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