joedirtae09 Posted August 26, 2011 Share Posted August 26, 2011 I live in the horrible state of VA where every mod is near illegal and ticket worthy if you come across the wrong cop. And not only do we have car tax we have property tax as well! The state assessed my 08 GT for the value of $17,225 as of 01/01/11.... does that sound right? Link to comment Share on other sites More sharing options...
theflystyle Posted August 27, 2011 Share Posted August 27, 2011 first question. what does kbb or nada say its worth? second question. even if you found something different, would they change it? Link to comment Share on other sites More sharing options...
bmx045 Posted August 27, 2011 Share Posted August 27, 2011 yes that's right, mine's about the same. Link to comment Share on other sites More sharing options...
rob-2 Posted August 27, 2011 Share Posted August 27, 2011 You pay property tax on a car? Is this on top of the DMV yearly renewal fee? Link to comment Share on other sites More sharing options...
bmx045 Posted August 28, 2011 Share Posted August 28, 2011 yeah it's called excise tax and yes a yearly reg renewal too Link to comment Share on other sites More sharing options...
BigTDogg MA Posted August 28, 2011 Share Posted August 28, 2011 Check the location Annual reg renewal with vanity plates, hence why I dropped mine. Link to comment Share on other sites More sharing options...
joedirtae09 Posted August 28, 2011 Author Share Posted August 28, 2011 first question. what does kbb or nada say its worth? second question. even if you found something different, would they change it? KBB says its $18,250 in excellent condition(of course mine is excellent) If I were to get in an accident and my car was declared a total loss, Im wondering how my insurance compnay would determine the value of my car if there are diff. numbers floating around. But then again, if the state went with KBB value, my property tax would be higher. You pay property tax on a car? Is this on top of the DMV yearly renewal fee? Yea, in VA... we pay something like $26 a year for registration, i think $12 for vanity plates, and then the property tax every year. Link to comment Share on other sites More sharing options...
rob-2 Posted August 28, 2011 Share Posted August 28, 2011 Why pay more tax on a car you already own? I would move out of NV if they started that. Link to comment Share on other sites More sharing options...
bmx045 Posted August 28, 2011 Share Posted August 28, 2011 Why pay more tax on a car you already own? I would move out of NV if they started that. NoVa means north virginia. Link to comment Share on other sites More sharing options...
rob-2 Posted August 28, 2011 Share Posted August 28, 2011 NoVa means north virginia. I know that, and if my state start double taxing me I'd leave. I live in NV. Double taxing should be a crime. all the b!tching and moaning people do over higher taxes and they're paying tax on a car when they buy it and then ever year to own hit. Everyone better be making 150K+ in North Virgina. In NV we have no state income tax, 8.1% sales tax, low DMV fees, my legacy is $200/year and my s2000 $190/year. We're any anti tax state and we plan on keeping it that way. To top if off I'm 30 minutes from Tahoe and the great out doors. Link to comment Share on other sites More sharing options...
bmx045 Posted August 28, 2011 Share Posted August 28, 2011 registration fees and excise taxes are two different things. our sales tax is 6.25% but we do have income tax. registration fee goes to the dmv, excise goes to the city you live in. excise tax is calculated $25 per $1,000 of vehicle worth based on nada with a corresponding percent based on age of car. multiply nada value of car by the age of the car, so my 08 is three years old, multiply value by corresponding % (40%) for me, then divide by 25, and thats your excise charge that year....mine's probably around $288 if my car is worth 18k on nada. this is the percent rate guide: In the year preceding the model year (brand new car released before model year) 50% In the model year 90% In the second year 60% In the third year 40% In the fourth year 25% In the fifth and succeeding years 10% Link to comment Share on other sites More sharing options...
Turkeylord Posted August 30, 2011 Share Posted August 30, 2011 Man, and I thought collecting "sales tax" every time a used car changes hands was bad... Link to comment Share on other sites More sharing options...
RJS5689 Posted August 30, 2011 Share Posted August 30, 2011 Maine also charges a yearly excise tax when you register your car. Link to comment Share on other sites More sharing options...
theflystyle Posted August 31, 2011 Share Posted August 31, 2011 In NV we have no state income tax, 8.1% sales tax, low DMV fees, my legacy is $200/year and my s2000 $190/year. We're any anti tax state and we plan on keeping it that way. To top if off I'm 30 minutes from Tahoe and the great out doors. one word.... illegals all joking aside, va has about 3x the amount of people living in 2x the smaller space. the infrastructure is in higher use, more people are using state supported programs and this all needs to be paid somehow. Link to comment Share on other sites More sharing options...
bigjweb Posted August 31, 2011 Share Posted August 31, 2011 It's easy to mod your car and a cop would never know. BNR turbos are perfect examples of this. Link to comment Share on other sites More sharing options...
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