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Old 01-12-2008, 09:31 PM   #1
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Default Anyone else have to pay tax on their car'* value each year?

Here in Missouri, we have to.

Just got my assessment. $9300. Uhh, yeah, right: an '04 SE with 60,000 miles is worth $9300 Think I'd be lucky to get $8000 for it!
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Old 01-12-2008, 09:38 PM   #2
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That'* a good racket if you can get away with it.

What percentage is the tax

We pay road taxes up here that only come in the form of traffic violation fines.
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Old 01-12-2008, 09:47 PM   #3
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Quote:
Originally Posted by 2000SilverBullet
That'* a good racket if you can get away with it.

What percentage is the tax
Here in MO, they take the "value" (heh) of your vehicle, divide it by 3, and then tax about 7%.. so you pay approx 2.3% of the total value each year. I pay about $500 a year with th two cars

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We pay road taxes up here that only come in the form of traffic violation fines.
Yeah, that'* happened to me a few times too Guess they have a few ways to collect, I think taxing gasoline is the best option: the more you burn, the bigger your vehicle is, and the more you drive, the more wear and tear you cause on the road.
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Old 01-12-2008, 09:47 PM   #4
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we have excise tax here in MA... luckily the car values are very low estimated. I think last year i only paid $40 for my bonneville in NH in 2004 my excise tax was about $250
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Old 01-12-2008, 09:56 PM   #5
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There is a similar tax rip-off going on in some states related to sales tax on private used car purchases. In most cases, you write the sales price on the title when it is signed over to the new owner and then they charge sales tax on that amount when the new owner applies for transfer of title.

Since so many private shade tree car deals have a severe low ball price marked on the title some states have gone to a bogus book value for used car sales tax.

Lets say you get a sweet deal on a used SSEI for $4,000 out of someone'* yard. When you go to the license branch and apply for a title they look it up and tell you it'* worth $7,000 and you get to pay sales tax on the whole $7,000.

Has anyone run into this?
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Old 01-12-2008, 10:00 PM   #6
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We are talking about a different type of tax, but to answer your Q; in MA, if the car is purchased at a licensed dealer, you pay sales tax on what is listed on teh paperwork, but private party sales you pay sales tax on the cars book value
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Old 01-12-2008, 10:04 PM   #7
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In MO, we pay sales tax on the sale price of the car minus trade-in value, if applicable. Typically it is about 7% of the price of the vehicle. So, yeah, that'* kindof fun: for the first year of vehicle ownership, you theoretically pay 10% of the total value of your vehicle in taxes!! But don't worry I'm sure they put the money to good use
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Old 01-12-2008, 10:08 PM   #8
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Quote:
Originally Posted by 1995BvSSE
for the first year of vehicle ownership, you theoretically pay 10% of the total value of your vehicle in taxes!!
I grew up on a farm west of Hannibal so I know you speak the truth. They tax you to death on vehicles.

Do you still have to get an annual inspection? Those are waste of time.
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Old 01-12-2008, 10:09 PM   #9
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$573.56 here for my truck both Bonnevilles and a 6'x12' utitly trailer. Luckily I don't have to pay it on the boat. PW County only charges tax boats when you buy them.
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Old 01-12-2008, 10:11 PM   #10
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Quote:
Originally Posted by tumbleweed
I grew up on a farm west of Hannibal so I know you speak the truth. They tax you to death on vehicles.

Do you still have to get an annual inspection? Those are waste of time.
They've gone to inspections every two years, with emissions required in some counties, which includes mine unfortunately.
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