Area vehicle owners see increase in personal property taxes despite depreciating value - KMOV.com

Area vehicle owners see increase in personal property taxes despite depreciating value

(KMOV) -- Personal property taxes are arriving in the mail, and some owners of used cars are getting a surprise: their cars’ values increased over the last year, which also means a higher tax bill.

This comes even as vehicles are depreciating.

Truck and SUV owners are seeing the biggest surges in personal property tax bills.

Geri Caldwell-Phillips says she was shocked to see her 2010 bill. According to the St. Louis Assessor’s office, her husband’s 2008 pickup truck is worth $5,000 more than it was last year. This caused her taxes to increase $347.

Caldwell-Phillips fought back and says that the assessor admitted a mistake and the truck value was adjusted.

 

Ed Bushmeyer of the St. Louis Assessor’s Office says the office gets its vehicle values from NADA guidelines.

 

Bushmeyer says when gas prices were high a couple years ago, gas guzzlers like trucks and SUV’s were in big supply.

 

Now that the market has changed, values have, as well.

 

The last property tax bills were based on values for the 2009 tax year.

 

There is no appeals process in place for the higher bills.

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