Dear Editor, Having recently received a notification that my vehicles have increased in value for personal property tax purposes, I have to wonder if there will be a corresponding reduction in tax rates? Personal property tax is not covered by the Hancock Amendment rules on reducing property tax rates as values go up, because traditionally the value of cars goes down. It is only due to the recent pandemic that the value of cars has increased quite dramatically. It’s obvious to me that the personal property tax increase is going to hit Missouri residents hard — especially at a time when we’re all dealing with the higher inflation rates we’ve grown accustomed to. Right now, local government coffers are pretty full between federal stimulus funds and other revenue. I don’t believe cities and counties need an extra bonus and that lowering personal property tax rates is the answer – without adding additional burdens to struggling working families and seniors. A personal vehicle is not a luxury in rural areas where other options for commuting to work, school and medical appointments are not available.
Reducing personal property taxes is the appropriate action to take at this time.
Sincerely, Charlotte Smith, Retired Marshall
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