SCS/SB 591 - Currently, county assessors are required to use the trade-in value published in the October issue of the National Automobile Dealers' Association Official Used Car Guide as the recommended guide for information for determining the value of motor vehicles for personal property tax purposes. This act requires a county assessor to use the lowest trade-in value published in the October issue of one nationally-recognized guide for establishing the value of motor vehicles. This guide will be approved by the State Tax Commission in conjunction with the association representing the majority of assessors in Missouri. The State Tax Commission is also required to approve four additional guides for establishing the value of motor vehicles. If the owner of a motor vehicle presents evidence that any of the four other approved publications has a lower applicable trade-in value, the assessor is required to use that value.
The assessor has the burden in an appeal before the board of equalization to prove that the owner's evidence of a lower published trade-in value from one of the approved publications does not demonstrate the true value of the motor vehicle.