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There is a push right now to slash Missouris personal property tax, a move that could put hundreds of dollars back into your pockets. Thats right, but it would come at a steep cost to local governments. Alex fees is live in Saint Charles County to break down the numbers. Good morning, Alex. Running in Sydney. Good morning. Right now, Missouri taxes your personal property. Your vehicle is at 33 1/3%. As you know, that can amount to hundreds of dollars per year. But state Senator Bill Eagle wants to cut that tax rate down to 31% and adjust how assessors calculate just how much your car is worth. Now, under Eagles plan, assessors would have to adopt this new depreciation schedule instead of just using the trade in value, which can be subject to the whims of the market over time. It would it would drive your tax bill. Down to zero once youve kept the vehicle for a decade. During the pandemic, when the supply chain dried up, used car prices shot up and people who had people who had cars
