Everything You Need To Know About Saint Louis County Personal Property Tax
What is Personal Property Tax?
Personal Property Tax, or PPT, is a tax imposed by the state of Missouri on individuals and businesses that own tangible personal property. The tax is calculated by multiplying the assessed value of the property by the applicable tax rate. The tax rate is set by the state, but local governments may impose additional taxes. In Saint Louis County, the personal property tax rate is set at 4%.
Who Must Pay Personal Property Tax?
All individuals and businesses that own tangible personal property in Saint Louis County must pay personal property tax. This includes furniture, vehicles, boats, motor homes, trailers, and other personal property that has a title or registration. Businesses must also pay taxes on business-owned equipment, such as computers, machinery, or office furniture. The tax is assessed at the beginning of the year and must be paid by the due date.
How is Personal Property Tax Calculated?
The personal property tax is calculated by multiplying the assessed value of the property by the applicable tax rate. The assessed value is determined by the county assessor, who takes into account the age and condition of the property. In Saint Louis County, the tax rate is set at 4%. For example, if the assessed value of a vehicle is $10,000, the personal property tax would be $400.
How Can I Pay Personal Property Tax?
Personal property taxes can be paid online, by mail, or in person. To pay online, visit the Saint Louis County website and log in to your account. You will need to provide your tax bill number and the amount of the tax. To pay by mail, send a check or money order to the Saint Louis County Collector. To pay in person, visit the Collector’s office at the Saint Louis County Courthouse.
What Happens if I Don't Pay My Personal Property Tax?
If you do not pay your personal property tax by the due date, you may be subject to penalties and interest. The penalties and interest increase the longer the tax remains unpaid. In addition, if the tax remains unpaid for more than six months, the county may place a lien on your property. This means that the county will have a legal claim on your property until the taxes are paid in full.
What is an Assessment Appeal?
If you believe that the assessed value of your property is incorrect, you can file an assessment appeal. This is a formal request to the county to reevaluate the assessed value of your property. The appeals process is complicated and involves several steps. It is recommended that you consult with a qualified tax professional before filing an appeal.
What is the Property Tax Relief Program?
The Property Tax Relief Program is a program designed to help individuals and businesses who are unable to pay their personal property taxes. This program allows qualifying taxpayers to defer their taxes or receive a discount on their taxes. To qualify, you must meet certain income and asset criteria. For more information, contact the Saint Louis County Collector.
Conclusion
Personal property tax can be confusing and overwhelming. Fortunately, Saint Louis County offers resources to help individuals and businesses understand their tax obligations. If you have any questions about personal property tax in Saint Louis County, contact the Collector's office for assistance.