Shot to the gut - car tax

[reddogva99]

I've never owned a car this expensive. I got my car tax for the year. $1500!!! my jaw dropped.

 

[MagicRobert]

I've never owned a car this expensive. I got my car tax for the year. $1500!!! my jaw dropped.

You must be talking about property tax. Is that correct?

In Texas, only a few cities (like Austin) charge property tax on vehicles.

Or, is this something else.

That tax bill would have hit me the same way.

 

[Aquineas]

You must be talking about property tax. Is that correct?

In Texas, only a few cities (like Austin) charge property tax on vehicles.

Wow, I never knew that. I'm an inadvertent tax dodger; I lived there for almost two decades and never paid any such thing? Was it enforced during annual registration? Because all I paid was like $70 a year.

 

[CtK]

I've never owned a car this expensive. I got my car tax for the year. $1500!!! my jaw dropped.

What?!?! That is crazy!!

 

[MagicRobert]

The prop tax on autos in Austin is very low. It is odd for Texas in general, but Austin did it a long time ago to get a few more bucks from all the UT students.

In some states and municipalities, property tax on autos is awful.

I will stay in Texas...

I don't know for a fact that this is what is being discussed here by the original poster, which is why I asked. It seems way too low to be sales tax and really high if it is property tax.

 

[reddogva99]

yeah..personal property tax that we pay yearly in VA on cars

 

[cane2025]

I thought once the car was purchased the first T in TTL was for the taxes??.....

 

[craigt]

I thought once the car was purchased the first T in TTL was for the taxes??.....

The first T is the initial sales tax. In MA, it is currently 6.25%, is paid at the time of sale, and can be added to the amount financed in the auto loan.

In MA, we have an "excise" tax, which is a yearly car tax based on the value of the car. It has been $25 per $1000 of valuation of the car for as long as I can remember. The state grossly undervalues the value so people do not challenge it. The first year of my car (sticker of $44k), it was valued at $24k. This past year, the valuation was $17k.

This excise tax, as far as I know, goes to the city/town of residence to pay for roads, bridges, etc.

 

[kn5owa]

Virginia here -- State sales tax at purchase =$2000

County property tax will probably be comparable.

And: insurance also went way up when I swapped a Taurus for the Genesis

Life ain't fair

 

[wasnt]

yeah..personal property tax that we pay yearly in VA on cars

LOL I am in central VA and just got my Property Tax bill on my 2010 CX-9 and my, now traded in, 2013 Honda Accord. I fear the bill on this car. Seriously...

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[MagicRobert]

Yeah the property and/or excise taxes in some states are really onerous.

I will stay in Texas.

My personal favorite is Birmingham, AL. Income tax at the national, state, and city level. Then all the other BS taxes. Aaargh! Worked there as a consultant years ago.

 

[greekgeek]

Almost $500 here in Indiana between the yearly excise tax and wheel tax, just to then pay to register your car.

 

[CtK]

Holy crap!! I never knew they had property taxes on cars. Glad we dont have that in FL.

Do you have to pay property tax if you lease the car??

 

[reddogva99]

LOL I am in central VA and just got my Property Tax bill on my 2010 CX-9 and my, now traded in, 2013 Honda Accord. I fear the bill on this car. Seriously...

I live in henrico county and i believe we have high taxes here compared to a lot of the state

 

[homeofstone]

GA recently changed in the vehicle taxes. In the past I had very large bills each year. Now there is a 7% title tax (no sales tax)at time of purchase when the title is registered on vehicles used or new and from dealer or private seller. The good thing is the buyer never pays any tax on the vehicle for the remainder of their ownership. I love it because I keep some vehicles as long as 10 to 15 years and this year paid no taxes on my GMC or my Merc. As to owning an expensive car, "You got to pay to play"

 

[wasnt]

I live in henrico county and i believe we have high taxes here compared to a lot of the state

I work in Henrico County but live in Chesterfield. Henrico is cool because it breaks up the bill into 2 annual payments. In Chesterfield, you have to pay all at once (end of May), which blows ass. Just a random $1800-$2000 in bills dropped on you in the middle of May that you get 2 weeks to pay. Fun stuff.

 

[kn5owa]

The bottom line - Va is a high tax state.

At least the pers. prop. assessment won't go up - like the real prop. tax (at least I hope).

In my county, the name of the game is to raise real prop. assessments like crazy and then pretend there is no increase in tax because the tax rate increases are minimal.

Footnote: think about itemizing next year - if you don't already

 

[PMCErnie]

Folks who live in VA should try paying property taxes in some other states. For example, I paid about 4 times my annual Virginia property taxes when I lived in NJ and that includes my Virginia county's car tax amount. NJ has no annual property tax on cars, but you pay much more in house property taxes than in Virginia.

 

[Reloader15]

I live in NY and each county can vary, my 50k Genesis cost me $4000.00

 

[Alwaysforward]

I am so glad we don't have those taxes here in Florida. No state tax or Personal Property Tax. We can even save up our receipts for all items purchased and claim that tax on our Federal Tax Return under the General Sales Tax line...