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Author Topic: Property Tax Rate Schedule  (Read 3002 times)
lakeholme
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« on: March 16, 2013, 06:01:48 PM »

In NC, property tax on automobiles is figured by "book rate' in each county.  If an effort to find more tax value, some counties have been using inflated values on classic cars.   Shocked Shocked Shocked
Our state legislature has recently passed a bill that gives us quite a bit of relief.  The gist of it is that if the car is registed with the state DMV and issued an antique car tag, then the value will be $500 or less.  Grin Grin Grin
 How are taxes figured on your Camaro in other states?  Huh Huh Huh
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Phillip
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« Reply #1 on: March 16, 2013, 06:15:03 PM »

Oregon just says send us all your money and we'll send back whatever we think you deserve.  We don't have that kind of tax, but don't give them any ideas.
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« Reply #2 on: March 16, 2013, 06:48:34 PM »

In Nevada it is essentially an ad valorem tax as well, but based on "blue book" value, not collector car value.

As a comparison, I just submitted the registeration for my 2011 Camaro SS and it was $421 for the year (includes the cost of my personalized plate:  AWSUMSS), whereas the annual registeration for my '69 RS (including the cost of the personalzied plate:  1969 RS) is $59.
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Richard Thomas
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« Reply #3 on: March 16, 2013, 08:12:17 PM »

    In Connecticut , all towns access Antique plate registered cars @ $500.00 ,
   so in my case, I have a yearly property tax under $20.00 !!
       ( Mill rates vary from town to town)
   There have been several attempts over the past few years to change this,
  but luckily all have failed.
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1968RSZ28
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« Reply #4 on: March 16, 2013, 10:04:36 PM »

California's law...  http://www.dmv.ca.gov/vr/fees/vlf_fees.htm

In California, this vehicle license fee may be deducted on your income tax.   Smiley

Paul
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lcmc
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« Reply #5 on: March 16, 2013, 10:10:33 PM »

Seriously.......property tax on vehicles......never heard of that.
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Danny
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« Reply #6 on: March 16, 2013, 11:59:02 PM »

in Alabama, car license taxes are a function of two things:   1) value of the vehicle, 2) weight of the vehicle.  The calculated tax is added to the 'tag fee' of about $20 to figure your annual cost per tag.   For our older cars, once they are 30 yrs old and preserved as 'orignal collector/vintage cars', we pay a one time fee of $20 and it's good for LIFE...   (used to be 25 yrs, then they decided they needed to wait longer to bestow that privilege.  isn't 25 or 30 yrs long enough to pay taxes on an automobile?   especially ones that are seldom driven except to car shows, parades, car club meetings, etc?
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« Reply #7 on: March 17, 2013, 12:37:28 AM »

Tennessee does not judge a property tax on vehicles (some counties might add a wheel tax; the counties I've lived in don't add it to antiques) - sales tax accrues only on the sale/transfer of the vehicle; vehicles older than 25 years qualify for antique tags, a one-time-only registration that's good for as long as you own the vehicle. Vehicles prior to '75 do not have to be emissions inspected. Insurance required, applies to all vehicles.

Tennessee guys - left anything out ?

Regards,
Steve
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« Reply #8 on: March 17, 2013, 07:36:03 AM »

Massachusetts is 25 dollars on 1000 valuation, first year is based on the base price of the vehicle before options. After that it decreases 10% every year for 9 years, and then stays at 10% of the original base price forever.  My car is valued at 325 dollars presently, and has been as long as I've owned it.
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« Reply #9 on: March 17, 2013, 08:12:42 AM »

NJ taxes real property,  instead of personal property.  No tax on vehicles. Antique car registration is for life, or until sold.
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« Reply #10 on: March 17, 2013, 10:12:36 AM »

No personal property taxes in Michigan - my '69Z and '67 Corvette cost me $29.00 each for plates each year.
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« Reply #11 on: March 17, 2013, 08:21:51 PM »

No real estate/property taxes on cars here in PA either.
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lakeholme
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« Reply #12 on: March 18, 2013, 08:06:47 AM »

It's good to hear that states are taking care of antique car owners.  I own property in two NC counties and all my old cars, trailers, boats, etc. are all registered in a rural county, where the rate is lower.  In your state is the rate the same for the whole state or does the local county or equivalent set their own rate? 
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Phillip
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« Reply #13 on: March 18, 2013, 09:38:11 AM »

Lakeholme,
Don,t know if you heard but in NC starting next year DMV will be setting the rates not the counties but I don,t where they will get the value. Having 6 cars I seem to be getting hit hard on anything that says Corvette. Most guys I know are trying the antique route. They said my 64 vette was worth $54,000 which it is not so I complained and they did cut in half. It could be worse I guess, I own a houseboat in VA and the tax is more than my house in NC.
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« Reply #14 on: March 18, 2013, 12:30:13 PM »

No personal property taxes in Michigan - my '69Z and '67 Corvette cost me $29.00 each for plates each year.
John has personalized plates on his cars, IIRC. Smiley
I plated my car in MI with year-of-manufacture plates (aka 69). One-time fee and they are good for life. No more fees for me, just insurance.
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« Reply #15 on: March 18, 2013, 01:04:09 PM »

I did the same thing in Alabama Kurt.  A guy from another Camaro forum sent me the plate that was almost new. Of course that was before I found this site !!
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lakeholme
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« Reply #16 on: March 18, 2013, 04:12:40 PM »

Lakeholme,
Don,t know if you heard but in NC starting next year DMV will be setting the rates not the counties but I don,t where they will get the value. Having 6 cars I seem to be getting hit hard on anything that says Corvette. Most guys I know are trying the antique route. They said my 64 vette was worth $54,000 which it is not so I complained and they did cut in half. It could be worse I guess, I own a houseboat in VA and the tax is more than my house in NC.
Yes, that's what prompted this thread.  Does look like I'm going to have to get an antique tag, however...

No personal property taxes in Michigan - my '69Z and '67 Corvette cost me $29.00 each for plates each year.
John has personalized plates on his cars, IIRC. Smiley
I plated my car in MI with year-of-manufacture plates (aka 69). One-time fee and they are good for life. No more fees for me, just insurance.

I did the same thing in Alabama Kurt.  A guy from another Camaro forum sent me the plate that was almost new. Of course that was before I found this site !!
I've been using year of manufacture tags on all my classic cars for years, instead of antique car tags.  It's cheaper in NC.  They do make you carry a current NC tag with you... and I carry a copy of the legislation with me in case I get pulled by a rookie officer.
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Phillip
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« Reply #17 on: March 18, 2013, 10:35:44 PM »

You guys paying all these fees and taxes need to start a Montana LLC. Saves you thousands in sales tax when you buy a car plus since its registered in Montana and owned by the LLC you won't have to pay the property tax on it.
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Danny
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« Reply #18 on: March 18, 2013, 10:43:13 PM »

Lakeholme, if you want to save on license tags see North Carolina House Bill 71. This proposal will allow individuals of antique cars to purchase a permanent tag for a one time fee of $40 as long as you own the car. Payback is less than 2 years, I have owned my 69 Camaro for over 33 years just think in Wake County I could have saved $1,100 over that time period. If you have certain military service the tag is free. I hope the Bill passes.
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Tim Bailey
lakeholme
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« Reply #19 on: March 19, 2013, 09:01:48 PM »

Thanks Tim!
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Phillip
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« Reply #20 on: March 20, 2013, 12:13:07 PM »

property tax on your car?
hmm, they gonna property tax your flat screen, your computer, your collection of hot wheels? Damn government...........
I've got YOM plates on my '57 3100 and my '28 Ford.
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« Reply #21 on: March 20, 2013, 04:01:36 PM »

No personal property tax here in Minnesota either.. collector plates for my camaro were a ONE time fee of around $100. No renewal or tabs Smiley 
  Iowa is looking at legislation to TAX big motor homes that are being registered in Montana and other states under LLC systems... like Danny mentioned. They are closing those tax loopholes in alot of  states these days.   Oh well
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lakeholme
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« Reply #22 on: March 20, 2013, 05:26:38 PM »

Yep, they're looking for income wherever they can find it...
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Phillip
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« Reply #23 on: March 20, 2013, 05:45:17 PM »

Yep here in JOCO I almost had a heart attack. I was paying around $50 ea. a year on 3 of my cars and $26.00 on the other. Then
all of a sudden they all jumped to $181.00 to $215.00. So I went from paying $175.00 a year to $800.00.
They just automatically assumed all the cars were numbers matching and charged high retail from the nada. The girl at the DMV told
me to just get an antique tag and file the paper work and they drop it to $500.00 value and I pay no tax. But I lose my personal tag.

   So I'm having some 1967 NC plates made personalized to run instead of the antique plate.
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« Reply #24 on: March 20, 2013, 11:05:32 PM »

67RS:
you made the statement:  " So I'm having some 1967 NC plates made personalized to run instead of the antique plate."
What do you mean by 'having them made 'personalized'?    You're modifying an original state plate for '67 by putting your own letters on it?   is that allowed in NC?  neat idea if they will allow it here in Bama.. Smiley   I'm going to check.   I've a friend who can cut out letters and numbers from old tags and put them all back together again to spell out new words..  Smiley
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Gary W.  /  69Z28-RS, 72 B 720 cowl console rosewood all tint
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lakeholme
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« Reply #25 on: March 21, 2013, 12:11:26 PM »

Section d of the NC tag law allows YOM tags, but you must maintain and carry a current tag. The YOM tag is not even registered, so if you get pulled, you show the officer your current tag. This, btw, has no impact on the tax issue.  But... section f says you cannot use an altered tag. I've got a Tri-Five buddy that displays a repo NC OO-0000 tag, and he gets pulled a lot. So, he shows the officer his current tag and a copy of the law. If that doesn't work, he offers to change the tag right there. So far, no ticket for an altered tag.
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Phillip
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« Reply #26 on: March 21, 2013, 01:03:59 PM »

I know in Ohio a YOM plate has to be original. Also you first buy historical tags the tranfer to YOM. They are a one time fee. Also with YOM you only need one plate.
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Danny
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« Reply #27 on: March 24, 2013, 06:19:36 PM »


  ohio "yom"?? please share..what is a (yom)?? no property tax with my 3 historical tagged collection.
pay whatever rate is for my county when i register for those historical tags,good for as long as i own it.must be surrendered upon sale tho.then agreed value insurance policy ,both limited mileage imo.
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« Reply #28 on: March 24, 2013, 06:43:28 PM »

Year of manufacture...YOM...

Eddie
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67rs/ss396
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« Reply #29 on: March 25, 2013, 07:06:15 AM »

Not much of a change but I got lucky and found 3 tags that start with my initials  TW. I'm having the one below
changed from an 8 to a 3.
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« Reply #30 on: March 25, 2013, 08:43:23 AM »

Year of manufacture...YOM...
             
Eddie
        thanks Eddie..couldn`t get around Red Robin in my mind....YUMMMMMM
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lcmc
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« Reply #31 on: March 25, 2013, 10:50:09 AM »

Not much of a change but I got lucky and found 3 tags that start with my initials  TW. I'm having the one below
changed from an 8 to a 3.

Before you go to all the trouble changing it you better check with DMV and make sure you can modify the tag and that the number isn't already registered
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Danny
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« Reply #32 on: March 25, 2013, 12:11:13 PM »

Before you go to all the trouble changing it you better check with DMV and make sure you can modify the tag and that the number isn't already registered
Good advice....In Texas you have to use original plates and it has to be checked with their records to see if it is in current use.  Just last week, I re-registered my 1968 Camaro and instead of using their antique plate I registered a set of 1968 YOM plates. They had to check them to see if they were in use by someone else before I could use them.  They also had to be in good readable condition.
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« Reply #33 on: March 25, 2013, 12:44:23 PM »

No worries you don't have to register the yom tag you use, you just have to keep the antique tag they issue you
in the car.
  And besides, there's not a policeman here that will right me a ticket, and if there is, there's not a judge that
will convict me of it.  Wink
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lakeholme
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« Reply #34 on: March 25, 2013, 02:43:41 PM »

No worries you don't have to register the yom tag you use, you just have to keep the antique tag they issue you
in the car.
  And besides, there's not a policeman here that will right me a ticket, and if there is, there's not a judge that
will convict me of it.  Wink

He's right about YOM tags in NC. But I'd still like a lower tax rate.  Grin
So, 67RS/SS396, how long have you been in the witness protection program?  Cool
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Phillip
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"Charlotte AutoFair -- presented by the Hornets Nest Region, AACA -- is the largest and greatest Collector Vehicle Event in the Southeast." --September 18-21, 2014
lakeholme
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« Reply #35 on: May 11, 2013, 11:08:27 AM »

In NC, property tax on automobiles is figured by "book rate' in each county.  If an effort to find more tax value, some counties have been using inflated values on classic cars.   Shocked Shocked Shocked
Our state legislature has recently passed a bill that gives us quite a bit of relief.  The gist of it is that if the car is registed with the state DMV and issued an antique car tag, then the value will be $500 or less.  Grin Grin Grin
 How are taxes figured on your Camaro in other states?  Huh Huh Huh
Got my bill on the 68...  I have the car registered in a rural county, where they use a value that is only about ten percent of true current value on antique cars. If I understand this new legislation correctly, it would reduce my bill down to about four dollars.  Grin
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Phillip
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"Charlotte AutoFair -- presented by the Hornets Nest Region, AACA -- is the largest and greatest Collector Vehicle Event in the Southeast." --September 18-21, 2014
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