TKC Told You So: Property Taxes On Cars Spike. Here's 'Official' Explanation

Our blog community talked about this over the Summer and then again last month

Today, very much like the hotness of Denise, it's news fact . . .

Accordingly, here's the newspaper playing press agent for the courthouse . . .

Many residents have reported receiving personal property tax bills that are higher than last year’s, even though their vehicles are a year older. Jackson County Assessor’s Office Deputy Director Maureen Monaghan says that this has to do with increased prices due to the state of the economy.

“Property taxes are based upon value, and many people are seeing an increase in their vehicle value,” she told The Star. She added that her department is required to use the vehicle values listed in the previous October’s issue of the National Automobile Dealers’ Association price guide.

“We’ve seen those values go up in that evaluation guide,” she said. This delay between evaluation and taxation also means that even if vehicle values go down next year, residents’ bills won’t reflect that decrease until the following year.

Read more via link . . .

Tax bill on your car more expensive this year? Breaking down KC's personal property taxes

Tax season may be well behind us, but property tax season is right around the corner in Missouri and Kansas. Residents will start getting their bills in November. There are two types of property taxes: "Real" property tax applies to land and anything attached to it, like houses and buildings, while "personal" property tax applies to vehicles and other moveable possessions like your boat, livestock, trailers and farm equipment.