Hands Off Our Property

Missouri taxes personal property -- like cars, trucks, trailers, motorcycles, farm equipment, etc. -- at 33.3% of their assessed value. That value currently comes from the National Automobile Dealers' Association Official Used Care Guide and not necessarily the actual value of your vehicle. During extreme market conditions, like those experienced in the used car market in 2021 due to government pandemic response, this can mean extreme increases in the assessed value of your car (and higher taxes!).

Senator Bill Eigel's SB 8 solves this problem by tying the value of your property to the Manufacturer's Recommended Sale Price (MSRP), stabilizing the assessed value of your vehicle and preventing surprise tax bills.

Then it goes further! The percentage of the assessed value that is taxed goes down significantly each year for ten years. After a vehicle/trailer/tractor/etc is 10 years old, no more personal property tax is owed.

This bill would mean significant property tax relief for all Missourians that own a car, truck, trailer, or other form of personal property.

Please sign the letter to urge your lawmaker to support Senate Bill 8.