The Assessor's Office is responsible for the valuation of all the tangible real and personal property within Cole County. Cole County's 71,996 citizens own over 33,000 parcels of real estate and have over 30,000 personal property accounts.
The Cole County Assessor's office strives to assess all property fairly, equally and in a uniform manner under the laws of the State of Missouri, while providing the highest level of service and treating all taxpayers and citizens with utmost respect.
Typically, the value of almost all personal property depreciates each year.However, the last couple years have proved the opposite.Due to the shutdown of auto plants during the pandemic, a lack of new car supply placed extreme pressure on the used car market, causing used vehicle values to increase significantly.
Per state statue, Assessors in Missouri are required to use the average trade-in values stated in the October issue of the National Automobile Dealers Association (NADA) official used car guide. When determining the values for 2022, the October 1, 2021 issue was used, and it has not been uncommon to see a value increase of at least 10-20% in the current market, which can result in an increase in personal property taxes.
As the Assessor of Cole County, I want to make the taxpayers aware of the possible increase to their personal property assessments for the 2022 tax year.