SS/SCS/SB 799 - Current law requires assessors to use the trade-in value published in the October issue of the National Automobile Dealers' Association Official Used Car Guide to determine the true value of motor vehicles for the purposes of property tax assessments. For the 2024 tax year, this act requires the State Tax Commission to require an assessor to use such publication or the Kelley Blue Book, Edmunds, or another similar publication, and allows the assessor to use the current or any of the three immediately previous years' October issue of such publication.

For all tax years beginning on or after January 1, 2025, this act requires assessors to use the manufacturer's suggested retail price as depreciated using a twelve year depreciation table provided in the act to determine the value of motor vehicles. When the manufacturer's suggested retail price data is not available from an approved source or the assessor deems it not appropriate for a vehicle, the assessor may obtain a manufacturer's suggested retail price from a source that he or she deems reliable and shall apply the depreciation schedule provided by the act.

This act is substantially similar to HCS/HB 1690 (2024), HB 2358 (2024), SS/SCS/SB 8 (2023) and SB 493 (2023), and to a provision in HB 2403 (2024), HCS/SS/SB 23 (2023), HCS/SS#3/SCS/SB 131 (2023), SS/SCS/SB 133 (2023), as amended, HCS/SS/SB 143 (2023), HCS/SB 247 (2023), and SCS/HCS#2/HB 713 (2023).

JOSH NORBERG

Statutes affected:
Introduced (4028S.01): 137.115
Committee (4028S.02): 137.115

Senate Committee Minutes:
SENATE COMMITTEE MINUTES Bill No.: SB 799
Sponsor: Fitzwater
Hearing Date: 1/17/2024


COMMITTEE: Transportation, Infrastructure and Public Safety

CHAIRMAN: Fitzwater

DATE REFERRED: 1/9/2024 DATE HEARING REQUESTED:



STAFF:
Alyssa Bruemmer
Heidi Kolkmeyer
Mary Grace Pringle
Ben Ridder
Eric Vander Weerd


WITNESSES GIVING INFORMATION:
Kenneth Mohr - Boone County Mo
Kenneth Mohr - Missouri State Assessor's Association
Dan Hutton - State Tax Commission


WITNESSES FOR:
Ben Travlos - Mo Farm Bureau


WITNESSES AGAINST: