The tax on most vehicles will be more in 2022 than in 2021. This is due to the rising values of vehicles in the re-sale market. Assessors are required by law to value vehicles each year using the National Automobile Dealers Association (NADA) average trade-in values.
The State Tax Commission of Missouri has figures showing that the car and truck values in most Missouri counties have gone up anywhere from 20% to 30% for 2022. In the City of St. Louis, the total value of vehicles have increased approximately 20% over last year’s values. Some vehicles will have gone up more than 20% and some less than 20%; it just depends on the year, make and model of each vehicle and how the price in the market has fared from 2021 to 2022.
Some taxpayers believe that all vehicle values automatically go down every year. While vehicles generally depreciate in value over time, there have always been exceptions for certain vehicle models or types that hold their value or increase in value from year to year. Over the past two years the vast majority of vehicle values have increased—and the amount of increase is uncommon. Trucks and SUVs have seen the biggest increases.
Although taxpayers receive their bill at the end of 2022, the values on vehicles are set based on what they were worth on January 1, 2022. Recent value trends in the car market over the last month or so will be reflected on the 2023 tax bills as that market activity is well past January 1, 2022.
Assessor - Personal Property Assessment and Records
Collector - Personal Property Tax Department
Taxation and Revenue