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Old 12-30-2012, 11:16 AM
 
1,644 posts, read 4,377,714 times
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Quote:
Originally Posted by Curmudgeon View Post
Taxation is based upon valuation which decreases yearly. Taxes for our 2007 Honda Accord were $147.47.
That makes more sense. My car would be considered 5 years old next year in 2013, which is when I plan to move. Thanks for the info.
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Old 12-30-2012, 11:18 AM
 
1,644 posts, read 4,377,714 times
Reputation: 1176
Quote:
Originally Posted by Okey Dokie View Post
The value is based on a standard value - I believe it's Kelly Blue Book - regardless of mileage or condition. Your 2008 Civic LX would be valued the same with 12,000 miles or 112,000 miles. It will be worth less next year, so your taxes should go down. Then one year you'll decide to buy a new car and ouch! they'll go back up.

Also, in Missouri, your personal property taxes are determined what you own on January 1st and are billed the following December. If you're thinking of buying a new car in December, resist that urge and wait until January 2.
Thanks. Definitely good to wait until after Jan 1 to buy a new car! I'm a long way from that, however, as I expect the civic to last 10 years. Thanks again for the tip!
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Old 01-05-2013, 02:16 PM
 
Location: Florida
16 posts, read 24,061 times
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It not as bad as it seems, but we never paid over $350.00 on any car/truck we owned while we lived there. It's once a year in December, so don't fret and it goes down each year as the car depreciates in value. But if you purchase a car in MO, you have 30 days from time of purchase to pay taxes on that vehicle. So if you buy a car worth let's say 20k (for ease of calculation) and the tax rate is let's say 8%, you would have to come up with $1600.00 in 30 days because MO does not put the tax in the car note. You must plan for that when you get a car loan. Some dealerships are starting to put the tax in the loan but where IDK.
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