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Filing your personal property taxes could be quite complicated even the simplest errors can result in hefty penalties therefore here are some steps to follow to make sure you can pay your taxes in full and on time first keep in line but in all Missouri counties personal property taxes are based on what you owned on January 1st so when you sell out your assessment form you must think about where you live and what you owned on that particular date Missouri is a self-declaration state which means that you're only allowed to be taxed on what you say you own in other words reporting such information is your responsibility and their responsibility only the state cannot pull records to find out that information for you if you own a car boat or anything else that's licensed or taxed by the DMV the Assessor will evaluate its market value the assessment rate for cars is one cent of its value so if it's a 9000 vehicle the rate is very balanced bad assessed value gets multiplied by the number of levy school districts and cities put together the resulting amount will be what you see on your tax bill to get an estimate on how much you owe take a third of your property's market value and calculate what 8 to 10 percent of that value depending on your school district if you have any more questions about filing your personal property taxes contact your local assessor's office today you
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