Texas and the Standard Presumptive Value Tax on vehicles

[pishta]

Texas, they charged me >$7400 on my CA state income tax...ever hear of that? ;-)

That law stinks. only time blue book is used is for insurance replacement cost as its usually low on a functional car. that law work on salvage titles?

 

[YY1]

FL can be wishy-washy on this.

There is a similar value law on the books but I've only had the DMV try to enforce it once.

If you use a FL bill of sale, I believe that lessens the chance a bit.

Another issue in FL is weight, since vehicles are taxed/licensed based on it.

They couldn't find the weight of my 67 Belvedere wagon in their records, and they were googling it. First they said 4500 pounds, and I gasped, explaining that my truck doesn't weight that much (which they verified). After a few more minutes, they turned the monitor around so I could see it and asked me to help. We finally agreed on 3850, and now that is the official reference weight for a 67 B body wagon in FL!

 

[B-onefan]

I called Austin this morning to check on this and I am correct, Vehicles that are 25 years old or older are not subject to the Standard Presumptive Value, only tax on the sales amount.

 

[B-onefan]

Friends 66 Impala was valued at6 grand.He paid 500 .They taxed the crud out of him.I got lucky, I said bought the valiant for 1600 and paid ttl on that amount

FYI- I found out the SPV does not apply to vehicles 25 years old or older. I guess you have and need to know this before you go pay them. If you pay it, it is in their favor and I bet no refunds!

 

[Louie70Dart]

FYI- I found out the SPV does not apply to vehicles 25 years old or older. I guess you have and need to know this before you go pay them. If you pay it, it is in their favor and I bet no refunds!

Yeah, that would be safe to say. Ignorance is no excuse, the way DMV looks at it anyway

 

[FredS]

no questions asked in AZ for private sales. Texas still cheap on tags? AZ charges you for tags based on vehicle value. Paying $800 for tags per year sucked. None of mine area over $50 a year now, as they're older now.

 

[B-onefan]

Tags are $65 a year.

 

[340duster340]

those gravy train government pensions aren't going to fund themselves! PS .... NYS is pretty good on this never had an issue with a car older than 20 years

 

[moparlover]

down south of me in virginia they pay tax on their car every year...

How is my property tax calculated?
The current tax rate is $4.57 per $100 of assessed value.
To compute the tax on an item assessed at $5,000, divide the assessed value
by 100 and multiply by the tax rate:

($5,000 ÷ 100) x $4.57 = $228.50


Are there exceptions to the tax rate?
Yes. The following are currently taxed at a rate of one cent per $100:
antique automobiles, certified van pool vehicles, vehicles equipped for
the transportation of persons with disabilities, some vehicles owned by
members of volunteer fire and rescue squads and auxiliary police, vehicles
owned by certain elderly and disabled individuals, aircraft and flight simulators,
and homeowner associations furniture, office and maintenance equipment.
Mobile homes are taxed at the real estate tax rate.