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kdgtn46
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« on: March 20, 2009, 07:50:11 PM » |
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Proprty tax evaluations are not the only thing to be concerned about! Got my tax bill today for a 2002 Toyota, 145,000 miles, in fair condition. The tax rate for this vehicle is $8500. The Kelly Blue Book value is $4300. I love the part where you can appeal it, but I am required to send the full payment in with a letter of appeal.
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kimmimom
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« Reply #1 on: March 20, 2009, 08:14:34 PM » |
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what was the tax value last year? We last got ours in Aug and Sept. Usually car values do not go up, at least I have never seen them go up.
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kdgtn46
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« Reply #2 on: March 20, 2009, 08:39:18 PM » |
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It was valued at 10,000 last year, which was $3,000 less than I paid for it in 2002. The bill only decreased by $9.00 this year. I would love to know how the tax value is determined. If I could get $8,000 for this car, I would holler "sold".
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kimmimom
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« Reply #3 on: March 20, 2009, 10:50:11 PM » |
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I believe the tax rate went up last year, which is why your payment only went down a small amount. If you used last's year tax rate on the current value, you would probably see a bigger difference. I know you can refute it based on "excessive mileage" or if it is in bad shape. I have never seen ours unfairly rated.
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Silk_Hope
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« Reply #4 on: March 22, 2009, 07:45:45 AM » |
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When I had a car listed on my property tax when it was unregistered the tax was more than what it was after I registered it. Go figure.
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chatres
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« Reply #5 on: March 22, 2009, 09:34:59 AM » |
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Tax values ( on vehicles, not property mind you) go down, Tax RATES ( compare those) go up every year.
Their gonna " get it" one way or another for sure.
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Claude Bowles
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« Reply #6 on: March 22, 2009, 10:26:48 AM » |
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Tax values ( on vehicles, not property mind you) go down, Tax RATES ( compare those) go up every year.
Their gonna " get it" one way or another for sure.
Question: Is it the RATES that go down or the value of the automobile? |
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Duct tape is like 'The Force'. It has a light side and a dark side, and it holds the universe together. - Carl Zwanzig
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chatres
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« Reply #7 on: March 22, 2009, 06:19:17 PM » |
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Tax values ( on vehicles, not property mind you) go down, Tax RATES ( compare ) go up every year.
Their gonna " get it" one way or another.
Question: Is it the RATES that go down or the value of the automobile? Claude, the way I understand it and is historically known is: Most licensed vehicle's "Tax Value" of said vehicle goes down with each passing year. IE: they depreciate. ( disclaimer here) Perhaps some "antique" licensed vehicles that are totally restored would perhaps go "UP" in tax value? I'm not sure but those antique vehicles prob. would be the exception rather than the rule . Tax "RATES" are on the incline it seems. Balancing act ! If you have you're 2008 Vehicle Tax invoices from the county hold on to them and compare to the next vehicle tax invoice you get . Rates, value , etc. ( know MY rates went up and value went down ) Added note: I do believe the county said they may adjust" property" valuer rates downward per this last reval. in order to try and balance things out a bit. Will see. |
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« Last Edit: March 22, 2009, 08:54:21 PM by chatres »
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Silk_Hope
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« Reply #8 on: March 22, 2009, 06:44:02 PM » |
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My old cars are taxed at book rates eventhough they are restored and worth a lot more than their book value. Unless an appraisal is made on each car the county has no idea wht they are worth.
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hb727
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« Reply #9 on: March 22, 2009, 06:48:39 PM » |
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Aren't automobile tax bills also based on the previous years values and not a current value?
I think I've been told that by the tax office.
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peacefulcapitalist
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« Reply #10 on: March 23, 2009, 03:54:02 PM » |
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When the county does a revaluation and the values of real estate go up, they lower the tax rate to make up for it to keep the overall budget revenue neutral. You can always argue whether they lower it enough or not, but they do lower it. When this happens, the tax on your car will drop since both the value and the rate will go down.
Car owners are about the only big winners in revaluations.
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« Last Edit: March 23, 2009, 03:55:52 PM by peacefulcapitalist »
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"I don't believe in superstitions. They're bad luck." -- Bobby Valentine
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hb727
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« Reply #11 on: March 23, 2009, 04:18:26 PM » |
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When the county does a revaluation and the values of real estate go up, they lower the tax rate to make up for it to keep the overall budget revenue neutral. You can always argue whether they lower it enough or not, but they do lower it. When this happens, the tax on your car will drop since both the value and the rate will go down.
Car owners are about the only big winners in revaluations.
I don't know if you're referring to my post or not, but I was not clear enough in talking about last years values. What I've been told is that when you receive a tax bill for an automobile, the bill is based on a NADA value that usually runs about a year behind. In other words, if you're paying tax on a car that is four years old when you get the bill, you're actually paying tax on the value of a car when it was about three years old. This may have changed, so I'm going to confirm it tomorrow. |
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