Submitted by the Office of Rodger Reedy
This was a busy week in the Missouri House of Representatives. With one more week until our legislative spring break the pace is steadily increasing around here. This week, one of the bills I have sponsored this year, HB. 713 passed out of the House with a 150-0 vote. It will now head to the Senate where I will start the process to have it passed by them. I worked with many people to get the bill to this point. You will find a description and a brief report of the bill below.
HB 713 would change current state law that requires assessors to determine vehicle values by using the National Automobile Dealers’ Association Official Used Car Guide. The bill would repeal that requirement and instead have assessors use the manufacturer's suggested retail price (MSRP) for all vehicles for the original value of all motor vehicle assessment valuations. The bill establishes a 15-year depreciation schedule that would be applied to the
MSRP to develop the annual and historical valuation guide for all motor vehicles.
The bill sponsor said the change is necessary “so that our taxpayers can be assured that once they have that car that it’s not going to go up in value and increase their taxes.”
In order to give assessors time to transition to the new process if the bill becomes law, the legislation would not take effect until January 1, 2024. However, an amendment added on the House floor would allow assessors to utilize other sources to determine the true value of motor vehicles for 2023 assessments.
In his closing remarks to his colleagues on the House floor, the bill sponsor said, “The bottom line is it’s a taxpayer protection act. If there’s nothing else we can do, we can protect our taxpayers from unjustly having to pay more taxes on a vehicle that’s a year older; that has more mileage.”
As always, my legislative assistant Blake is available Monday through Thursdays from 8:00 – 5:00 and from 8:00 – Noon on Fridays. You can contact my office by calling 573-751-3971 or emailing Rodger.Reedy@house.mo.gov. If you would like a courtesy resolution from the House of Representatives please contact my office. As always, it is an honor and privilege to serve the citizens of District 57.
Thank you and enjoy the rest of your week!
Rodger Reedy
State Representative
57th District
