Today, the Board of Estimate and Apportionment granted final approval to an agreement to establish a revolving loan fund aimed at assisting low-income St. Louis City residents with the payment of personal property taxes, automobile tag fees, and auto insurance premiums. This initiative seeks to enhance traffic safety by reducing the number of expired temporary tags and uninsured motorists in St. Louis.
“The number of expired temp tags and uninsured cars on our streets is frustrating, and affects everyone who travels in our city,” said Mayor Tishaura O. Jones. “While the City increases our efforts to write citations for expired plates, this loan program will help low-income residents get into compliance and get insured while they pay back the loan.”
St. Louis and other Missouri communities continue to face challenges due to state legislators’ slow action on allowing sales tax payments at the point of sale for motor vehicles—a convenience available in every other state. The loan fund represents one approach by the City of St. Louis to address this persistent issue.
The not-for-profit organization Justine PETERSEN will administer the loan fund. “We are incredibly proud to maintain our commitment to our community by offering essential financial support through Justine PETERSEN,” said Sheri Flanigan-Vazquez, MSW, Chief Operating Officer. “This aid will be accessible to the residents in the areas we serve, with the goal of empowering and improving their overall quality of life. We are eagerly anticipating the positive and meaningful impact that this initiative will have on our city.”
City residents with a household income not exceeding 80 percent of the area median income are eligible to apply for assistance from the fund. Applicants must provide proof of residence, proof of household income, proof of vehicle ownership, and demonstrate an ability to repay the loaned amount. The City expects applications to open during fall 2024.
A total funding amount of $315,479 has been allocated for this revolving loan fund.
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