ADM serves Car Dealers, Automotive Marketing Pros and Internet Sales Managers
Missouri is often thought of as an inexpensive place to live. But in at least one category, driving expenses, the state lags.
It costs a Missouri driver $695 more than his or her Illinois counterpart per year for car expenses, including repairs, taxes and fees, gasoline, and insurance, according to a report released Wednesday by Bankrate.com, the personal finance website.
It costs $3,527 a year to operate a vehicle in Missouri, the 12th most expensive state for the category, according to the Car Cost Index.
Illinois was the 39th most expensive state, at $2,832 a year.
The data are surprising given the average price of a gallon of gas in Missouri, $3.47, versus in Illinois, $3.62, according to GasBuddy.com, which tracks daily prices.
But the Bankrate report says that Missouri drivers pay $495 more in taxes and fees than Illinois drivers. One possible explanation is that Illinois does not have a statewide personal property tax. It does have local property taxes, which are applicable only to land, buildings or permanent facilities, in other words, not vehicles.
Property taxes in Missouri do include vehicles, and vary by jurisdiction. Personal property in Missouri is assessed at one-third of fair market value.
Illinois drivers spend less on gas, $872 annually, than Missouri drivers, $1,123, Bankrate said.
Car insurance is more expensive in Illinois, $728 annually, versus in Missouri, $667 annually.
Kansas was 37th with costs totaling $2,852, below the national average of $3,201.
It costs the most to operate a car in Georgia, a whopping $4,233 a year. Taxes and fees there were $1,952 a year, the highest in the nation.