My 1991 XJ was like $30 (personalized tags). My '90XJ was $25. I just bought an '89 Ford F250 and got slapped with a $206, tags, taxes, title and fees.
This is when I found out how it all works. Taxes are based on the purchase of the vehicle (not the original MSRP) but how much it was purchased for at that time. So because I bought my '90 for $300 bucks taxes on it are nearly nothing.
So what you do is grab your spouse or friend, sell it to him/her for $1. Have a new title made in their name. Have him/her sell it to you for $1. Get new title made, viola your taxes just dropped to the floor because there is only so much tax they can take out of that $1 you paid for that vehicle...
Naughty? Yup. But IMO I'm not going to pay a ton of money for something when I don't and shouldn't have to.
It ia tottal and pure BS. It is illegal under federal law really.
I pay TAX on my car when I buy in in the form of state sales tax, DMV fees ect....
Then every year I have to PAY more TAX to own a car I already paid tax for.
I am sick of hearing that it is going away when they know darn well they are not going to get rid of it no matter what. Free money is free money.
I hate it as much as anybody but how is it illegal under federal law? I am not tyring to cause problems, I really want to know. Because, no matter what state we are in, we pay property tax on our land/homes so why does extending this to vehicles violate a law that the home tax doesn't?
I retired 2 years ago then moved here. They are taxing me to death. Taxes on the vehicles, county stickers, inspection sticker, Wythe County is taxing me on a higher value of my house that what I paid for it!
The list goes on and on.
Apparently, VA does not like retirees.
I need my own scam. What am I to do? Make moonshine?
It looks like the only way to survive is to do something illegal....or become a politician.
I guess none of you have ever lived in the Northeast. My parents live in NJ and pay over $8k in property taxes on a basic 2000 sf home with no master bath or walk-in closets. Add to that the highest car insurance in the nation. They can't wait to come move here and get relief from real taxes--they laugh at the car tax since it is nothing compared to what the goverment makes them pay to have their trash collected.
I own a 2008 F450 that was bought, titled, registered and insured in another state due to Virginia's personal property tax. In Virginia, personal property on a truck that cost over $65,000 (without any relief due to weight) would be a hefty bill each and every year. I plan on keeping it registered and insured in another state for the life of the vehicle. BTW....I lived in this "other" state for a year and a half thus it was easy to perform the above. For the other vehicles....I am checking out other states to register them in....as I have relatives in the mid west who would allow me to utilize their address. The only issue with this.....if you get pulled for any reason.....with out of state tags.....there will be questions raised as to the why's. My reasoning is that I have two residences....one is now a PO Box in another state.
I was even stuck paying PPTs for a vehicle that was in pieces (collecting dust) errr I mean being restored. I had a 76 VW Beetle (and a 65 Mustang) and they both had PPTs applied to them. Small taxes, but taxes nonetheless.
While it made me (almost) cry to rid myself of those vehicles, it is nice to not get THOSE bills once a year.