Missouri’s gasoline tax increased Friday for the first time in 25 years, but there’s still money to be saved if you keep all of your receipts.
Drivers filling their tanks in Missouri will pay an additional 2.5 cents per gallon of gasoline starting Friday. Governor Mike Parson signed the increase into law in July. The tax is expected to increase by the same amount each year between 2021 and 2025. By the end of 2025, the state tax rate will be 29.5 cents per gallon.
The tax increase could earn the state about $ 500 million more each year. Missouri plans to use the extra money to repair roads and bridges. However, raising taxes may not be enough money to keep the state on top of repairs. The Missouri Department of Transportation faces a $ 745 million deficit for high priority roads and bridges.
Those eligible for gas reimbursement may find the process a bit tedious. To request a refund, residents of Missouri must have their vehicle identification number, date of purchase, customer and seller name or address, number of gallons purchased, and amount charged under the Missouri fuel tax. The refund only concerns the increased part of the tax.
For someone who drove 15,000 a year in a vehicle averaging 30 miles per gallon, the 2.5-cent tax rebate would be $ 12.50.
Drivers must keep all of their receipts for three years and can only submit a claim once per year. Missourians will be eligible to receive their first refund on July 1, 2022.
Missouri resident Michael Cromwell said the increase in gas prices is really painful to hear and is encouraging Missouri residents to switch to electric model cars to save on gas.
âSo I think you know it’s a good way to encourage people to look to alternative fuels and alternative fuel source cars like Teslas,â Cromwell said.
This year, all of Missouri’s infrastructure systems received between a D and a C, according to a report by the American Society of Civil Engineers. The report also lists about 12.5% ââof Missouri bridges as structurally deficient compared to 8.9% nationally.
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