Section 137.075 RSMo 1994 states:
Every person owning or holding real property or tangible personal property on the first day of January, including all such property purchased on that day, shall be liable for taxes thereon during the same calendar year.
With only a few minor exceptions, valuation date, ownership, situs and taxability are all determined on January 1 of the tax year. Missouri has no statutory provision for prorating taxes. Therefore, if a taxpayer owns a car on January 1 and sells it or moves out of the state on, say, January 2, she is liable for the taxes on that car for the entire year. Conversely, if a taxpayer buys a car on January 2 or moves into the state with the car on January 2 or later in the year, no taxes are owed on the car for that tax year.