Quote:
Originally Posted by cycleguy55
Pardon my naiveté, but you're saying you pay property tax on your vehicles? Excuse the pun, but that's a completely foreign concept to me (I'm in Canada). I paid sales tax (federal and provincial) when I purchased my Cobra or any of our other vehicles (and subsequent parts, etc.), but there is no property, capital or any other taxes applicable as long as I own it.
Just curious - what other jurisdictions charge property or capital tax for vehicles?
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Yup... everyplace I've ever lived in the states charges something like this. Massachusetts called it "excise tax", Colorado called it Vehicle tax, CT calls it personal property tax.
Here it is $30.25 for every $1000 of value (3.025%). My wife's 2011 Mercedes E63 was over $2000 this year, $2200 last year, and I forget what we paid in Colorado when she bought it, but I think it was over $2000 as well...
I should add that this tax is on top of the sales tax when you buy a car of 6.75% (so if you buy a $50,000 car, when you go to register it hand the state $3375 plus another $150 or so in fees)
I won't ever get into the $15,000 a year in annual home property taxes for the privilege of living in the crappy state