Bill > HB349

This bill modifies provisions related to motor vehicle assessment valuations, specifically focusing on how the true value of motor vehicles is determined for tax purposes. The key change is in how assessors calculate the value of motor vehicles: they must now use the trade-in value from the National Automobile Dealers' Association Official Used Car Guide, and cannot use a value higher than the average trade-in value without physically inspecting the vehicle. Previously, for vehicles two years old or newer, assessors could use a different value without a physical inspection. The bill also clarifies that the true value of a motor vehicle shall be equal to, but no higher than, its trade-in value. If a specific vehicle is not listed in the guide, assessors can use other publications or methods to estimate its true value. This change aims to provide a more standardized and transparent method for assessing the value of motor vehicles for tax purposes, potentially helping to ensure more consistent and fair property tax assessments across different counties and cities in Missouri.

Budget and Finance, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB349&year=2025&code=R