Missouri House of Representative members have been working to give Missourians some relief from their high property tax bills. House members sent HB 713 to the Senate for consideration this week.

*In a bubble created by the COVID-19 response, used car values skyrocketed as factories shut down amid microchip shortages and disease mitigation factors -Josh Hurlburt*

Representative Josh Hurlburt (District 8) reported on the progress of HB 713 in his weekly newsletter. The bill would require that county assessors use the manufacturer's suggested retail price (MSRP) for the original value of all motor vehicle assessment valuations when they calculate the yearly assessed property tax. The current law requires assessors to use the National Automobile Dealers’ Association Official Used Car Guide.

HB 713 also establishes a 15-year depreciation schedule to the MSRP of all motor vehicles.

“In a bubble created by the COVID-19 response, used car values skyrocketed as factories shut down amid microchip shortages and disease mitigation factors,” Hurlburt stated.

Representative Rodger Reedy (District 57) who sponsored the bill, said the legislation fixes a real problem for Missourians. “Due to used car values going up, our constituents and citizens had higher tax assessments and therefore paid higher taxes. 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.”

Hurlburt also reported that he supported HJR 33 & 45, which is a combined measure that would cap primary residence real estate property tax assessments at 2% growth every year, and freeze assessments when homeowners reach 65 years old, which would stop the process taxing seniors out of their homes.

The Missouri House approved HB 713 by a vote of 150-0 this week and sent the legislation to the Senate for consideration.

KPGZ News - Brian Watts contributed to this story