Missouri personal property tax payments due Saturday
COLUMBIA, Mo. (KMIZ)
Time is running out for Missourians to get their personal property taxes paid before the Dec. 31 deadline.
Whether you choose to drop off your property taxes in person, drop box, by phone or online, you have until 11:59 pm Saturday night to avoid any extra penalties. Friday is the last day to pay your Missouri property taxes in person.
If you want to mail in your property tax payment, you need to make sure you have a postmark on or before Dec. 31.
"We have a 24-hour drop box at the corner of Ninth and Ash (streets) at the entrance of the Boone County Government Center," Boone County Collector Brian McCollum said. “Online is definitively an option and on line they can either pay with a credit card or an electronic check from their bank account."
Taxpayers have seen an increase in their personal property taxes for this year.
"I don't think there is any individual who hasn't seen an increase on their personal property taxes this year,” McCollum said. “With the market conditions of the past two years for new cars and used cars, that has finally caught up to the assessment side of things, and therefore also being reflected in the property tax bills."
According to the Missouri State Tax Commission, the percentage billed on your personal property is set at 19% of the market value of residential property and 33 1/3% on cars and boats.
if this year's personal property tax statement came with a case of sticker shock, there is a way to help ease the strain on your bank account.
"For folks who wish to wish to spread that tax liability out over the year, we do offer what we call an installment plan for both real estate and personal property that folks can enroll in,” McCollum said. “And its kind of a prepay on taxes throughout the year. They make monthly payment and then whatever the tax bill is come November and December those final payments are adjusted to reflect that."
If payment is delinquent on Jan. 1:
- 9% charged to late payment.
- 2% charged to each month late up to 18%.
- 27% charged if payments are a year late.
