Surging used car values behind higher Greene County property tax bills – News-Leader

With the deadline for tax payments about two weeks away, people may still be wondering why their personal property taxes have increased so much.

The reason: Demand for vehicles is high, while supply is lower than usual due to computer chip shortages, inflation and supply chain problems. That has led to used vehicles being valued at a higher amount.

According to the State Tax Commission of Missouri, analysts don’t expect the inventory of vehicles to return to pre-pandemic levels until late in 2023. The computer chip shortage may not be alleviated until 2024.

Why does that impact my property tax?

The surging value of used cars is reflected in the amount of personal property for which local residents are taxed.

County assessors in Missouri are responsible for determining the value of vehicles and other personal property.

Scroll to Top