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Old 09-18-2010, 10:21 PM
 
4 posts, read 21,725 times
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I realize that this has probably been covered at least in part in other posts. But I've read a bunch of them and I'm still confused.

A friend told my husband not to get rid of his 40 year old jalopy, but to bring it with when we move to Arkansas. He said he will owe almost no personal property tax.

Is that the same as automobile registration in Illinois? Can anyone give me any idea how much he would probably owe for a 40 year old Chevrolet???!

Sorry if the question seems stupid, but I hate not understanding things.
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Old 09-18-2010, 10:43 PM
 
735 posts, read 1,104,962 times
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I don't know about Illinois, but Arkansas seems to have an out of date tax system.

Personal property tax is probably just enough money to pay the employees that collect them.

At least Arkansas has enough common sense not to have automobile inspections or smogging.
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Old 09-19-2010, 01:09 AM
 
Location: Chicago, IL
696 posts, read 1,502,161 times
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I don't know if the tax system is out of date or not. It seems to work and the state ran at a surplus in previous years and hasn't had significant cutbacks during the recession .

But- personal property is taxed by local entities, not the state itself, so it varies in different areas, but is generally pretty cheap. I think the tax on my car was $120 last year. The less the vehicle is worth to start with, the better- the assessed value will be a percentage of the total value (20% or so I think?), which is what they'll determine the tax off of. The amount of tax will just depend on what county/city you move to.
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Old 09-19-2010, 03:12 PM
 
Location: Little Rock AR USA
2,457 posts, read 6,319,007 times
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Personal Property Tax in Arkansas is on the rooms of furniture you own, and your vehicles. And bring the antique because, as written above, the tax will not be much. Welcome to The Natural State. Hope you have an uneventful move.
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Old 09-19-2010, 10:11 PM
 
4 posts, read 21,725 times
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Thank you all for the replies. This tax system is very different from what we're accustomed to.
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Old 09-20-2010, 06:56 AM
 
Location: Maryville, TN
290 posts, read 672,030 times
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Quote:
Originally Posted by ArkansasSlim View Post
Personal Property Tax in Arkansas is on the rooms of furniture you own, and your vehicles. And bring the antique because, as written above, the tax will not be much. Welcome to The Natural State. Hope you have an uneventful move.
On the rooms of furniture?? Are you kidding me?? I had heard they tax every vehicle, boat, motorcycle etc 20% according to it's value, but really....your furniture? How do they determine tax on rooms of furniture? And does a person pay that tax every year on the rooms of furniture like they do the vehicles? Good grief...and I was considering a retirement to Arkansas possibly. This must partially explain how Arkansas is rated as #14 on the total tax burden on a scale of 1-50 with #1 being the worse. I was trying to get some explanation of this fact because there is so many people who want to live or retire in Arkansas and I can't believe they would want to after they know the tax burden. Maybe there is something I am missing?
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Old 09-20-2010, 09:12 AM
 
Location: Maryville, TN
290 posts, read 672,030 times
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I just called Benton County Tax Assessors office and asked about that "rooms of furniture" as being part of the personal property tax and they laughed and said that's not true. They said a VERY long time ago she thought that existed but not anymore. So I hope that the OP was kidding when that was mentioned. If so, it probably would have been a good idea to elude to that when posting because really....I thought you were serious. Every state has it's own weird taxes etc. and who knows, that could have been true for Arkansas!
The tax assessors office did explain that the state sets the value of the vehicle and not Blue Book, and that depending on what school district a person lives in a particular county that the 20% value of the whatever value is set on your vehicle is then multiplied by the milirate of that school district to come up with the $$ amount. She gave me an estimate of $105 on my 2005 Toyota Prius in Benton County outside of Rogers on the lake side if that helps anyone on this thread also curious about personal property taxes on vehicles. I also called the registration and licensing for vehicles and got an estimate on what that cost. Not as bad as I thought. I feel better now....
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Old 09-20-2010, 10:06 AM
 
Location: Living on the Coast in Oxnard CA
15,726 posts, read 26,753,064 times
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Quote:
Originally Posted by bluenoter View Post
At least Arkansas has enough common sense not to have automobile inspections or smogging.
And that is a good thing?
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Old 09-20-2010, 06:38 PM
 
Location: Little Rock AR USA
2,457 posts, read 6,319,007 times
Reputation: 1869
Quote:
Originally Posted by LLuce View Post
I just called Benton County Tax Assessors office and asked about that "rooms of furniture" as being part of the personal property tax and they laughed and said that's not true. They said a VERY long time ago she thought that existed but not anymore. So I hope that the OP was kidding when that was mentioned. If so, it probably would have been a good idea to elude to that when posting because really....I thought you were serious. Every state has it's own weird taxes etc. and who knows, that could have been true for Arkansas!
The tax assessors office did explain that the state sets the value of the vehicle and not Blue Book, and that depending on what school district a person lives in a particular county that the 20% value of the whatever value is set on your vehicle is then multiplied by the milirate of that school district to come up with the $$ amount. She gave me an estimate of $105 on my 2005 Toyota Prius in Benton County outside of Rogers on the lake side if that helps anyone on this thread also curious about personal property taxes on vehicles. I also called the registration and licensing for vehicles and got an estimate on what that cost. Not as bad as I thought. I feel better now....
Oops! I screwed up! That's how wrong info gets started and shows how long since I have taken care of family business. Wife, who now (thankfully) takes care of it, says I'm nuts and that changed years ago (as stated above) and I should stick to things I know about.
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Old 09-20-2010, 07:30 PM
 
Location: Maryville, TN
290 posts, read 672,030 times
Reputation: 77
Quote:
Originally Posted by ArkansasSlim View Post
Oops! I screwed up! That's how wrong info gets started and shows how long since I have taken care of family business. Wife, who now (thankfully) takes care of it, says I'm nuts and that changed years ago (as stated above) and I should stick to things I know about.
LOL! That's okay cause it prompted me to make a couple phone calls to find out.
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