Announcement

Collapse
No announcement yet.

Car registration renewal

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • mamaham
    replied
    I bought a used car and was surprised to see the appraised tax value higher than what I paid also. It was pretty easy to dispute. There was a form on my DMV website. I submitted that along with a copy of the Kelly blue book value and mileage (from mechanic). They lowered the value (still higher than what I paid) and adjusted what I owed.

    I was surprised the next year when it was higher again. Since the difference wasn’t that much, I just let it slide. I disputed the first time mostly due to the principle of the matter and also because we were paying off debt at the time.

    for a difference of 7,500 I would try the dispute if it is as easy as mine was. What’s your tax rate? What amount will you get back? If it’s significant to you, then worth the try.

    Leave a comment:


  • Ekanive23
    replied
    Originally posted by JBME View Post
    Not sure if this is a tax but I know some would consider it! Has anyone ever fought their local DMV on what they value the car as when they determine the price for new tags? We bought a used 2018 Honda pilot back in 2019 for around $40k. Just got our registration renewal notice and their base value for the car today is $47,500. Pretty sure cars don't appreciate in value....anyone ever fight this? Just wondering how much I should waste my time.
    I moved to Indiana to avoid taxes. Boy this is not a tax I was able to avoid. Illinois was cheaper. I just paid 980 dollars for 20 months registration.

    Leave a comment:


  • Lithium
    replied
    Paying more taxes is better than paying less taxes. You should appeal and ask them to charge you more!

    Leave a comment:


  • CordMcNally
    replied
    Originally posted by JBME View Post
    oy-certainly wasn't going to ask an attorney. I tried to figure this out online how they determine this as I'm just curious and intend to pay the whole thing. It just didn't make sense initially to me that they are determining the value to be quite a bit more than we ever paid. Maybe I'll call monday just to see if they can explain this to me. I will hang up if I'm on hold for more than 5 minutes...which means I'm not getting my answer
    I doubt any jurisdiction does it based on what was paid at this point. I was young but I’m pretty sure I grew up in an area that did this because the price that was ‘paid’ on paperwork submitted to the DMV was hardly ever the actual price.

    Leave a comment:


  • JBME
    replied
    oy-certainly wasn't going to ask an attorney. I tried to figure this out online how they determine this as I'm just curious and intend to pay the whole thing. It just didn't make sense initially to me that they are determining the value to be quite a bit more than we ever paid. Maybe I'll call monday just to see if they can explain this to me. I will hang up if I'm on hold for more than 5 minutes...which means I'm not getting my answer

    Leave a comment:


  • G
    replied
    Originally posted by JBME View Post
    Has anyone ever fought their local DMV
    Thanks for the chuckle! Sit-ups under a parked car would be more fruitful.

    I believe I just add it to my SALT, although now that I sold my rental, I don't know if I'll even be itemizing....

    Leave a comment:


  • Tim
    replied
    Probably not worth hiring a tax attorney to fight it. Just saying, I pay what is on the bill.

    Leave a comment:


  • spiritrider
    replied
    While many states will base their vehicle sales tax on purchase price with certain exceptions. States/municipalities usually base their annual vehicle registration excise/personal property taxes on a fixed depreciation value schedule. Usually, there is no value difference on trim levels, options, mileage etc...

    Bottom Line: While I don't have knowledge of all jurisdictions, I have never heard of any assessment of individual vehicles (unlike real property). Unless there is one where you live there would be no basis to fight over.

    Leave a comment:


  • Tangler
    replied
    i think i owed $37, guess they don’t think much of my used civic.

    Leave a comment:


  • CordMcNally
    replied
    How does your DMV determine the tax? Some go by the price when the vehicle was new.

    Leave a comment:


  • JBME
    started a topic Car registration renewal

    Car registration renewal

    Not sure if this is a tax but I know some would consider it! Has anyone ever fought their local DMV on what they value the car as when they determine the price for new tags? We bought a used 2018 Honda pilot back in 2019 for around $40k. Just got our registration renewal notice and their base value for the car today is $47,500. Pretty sure cars don't appreciate in value....anyone ever fight this? Just wondering how much I should waste my time.
Working...
X