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Old 05-06-2019, 12:09 PM
 
9 posts, read 4,525 times
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Hello Everyone:

I'm a little confused, we have a leasing from 2018 from Tennessee. We just moved to Atlanta, my husband went this morning to the DMV and the Rep told him that to transfer the registration to Atlanta will be around 1.100$ is that possible? We have to update the registration that was due last week which is when we moved in, so we waited to be settle.


Can someone give us a hand with this?

Thank you so much!
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Old 05-06-2019, 08:58 PM
 
1,821 posts, read 749,279 times
Reputation: 1528
Quote:
Originally Posted by HollyNY View Post
Hello Everyone:

I'm a little confused, we have a leasing from 2018 from Tennessee. We just moved to Atlanta, my husband went this morning to the DMV and the Rep told him that to transfer the registration to Atlanta will be around 1.100$ is that possible? We have to update the registration that was due last week which is when we moved in, so we waited to be settle.


Can someone give us a hand with this?

Thank you so much!
From my understanding it depends on your lease payments, length of the lease and payments remaining on the lease when you transfer to Georgia --- actually I could be wrong about the final one.

This may help you...
https://dor.georgia.gov/tavt-calcula...-hb-340-2017-0
https://www.philhugheshonda.com/leas...ar-in-georgia/

$1,100 may very well be possible given this criteria.
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Old 05-07-2019, 04:10 AM
 
5,927 posts, read 3,334,046 times
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if $1100 represents 7% of the value of the car that’s correct. Highway robbery but correct.

Georgia counts out of state leases like a sale so the entire car value is taxed.

In state leases get taxed on the lease amount (not the residual.)

I believe in a few months the out of state lease rate will drop to 3% so if you were able to wait it would save hundreds.

I was in the same situation and had to pay more than double what you paid. Welcome to Georgia.
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Old 05-07-2019, 11:01 PM
 
Location: Atlanta
6,547 posts, read 7,625,942 times
Reputation: 4361
Quote:
Originally Posted by markjames68 View Post
if $1100 represents 7% of the value of the car that’s correct. Highway robbery but correct.

Georgia counts out of state leases like a sale so the entire car value is taxed.

In state leases get taxed on the lease amount (not the residual.)

I believe in a few months the out of state lease rate will drop to 3% so if you were able to wait it would save hundreds.

I was in the same situation and had to pay more than double what you paid. Welcome to Georgia.
This is incorrect due to a change in law last year....

Georgia now allows for taxes to be made on the amount of lease payments being made, not the car's total value. Still a few details on this topic I'm fuzzy on too...

HollyNY, I would ignore the previous posts in this thread as they are very old and many changes have been made over time.

In short, we do not have an annual tax ad valorem tax on our cars in Georgia anymore at all. You will only pay a $20 tag fee on an annual basis. That is it.

But, we pay a larger tax as a one-time up-front registration fee. This often gets mistaken as a sales tax, since it works like on in practice for Georgian's buying a new car in Georgia, but it isn't quite the same. Most Georgian's buying a car have this amount rolled into the car loan.

Previously, you would have been paying a $350-$500 annual tax for most typical 1 year old cars, depending on the car's value and it would decrease each year as the car depreciates in value. Older cars near the end of their life would be taxes less than $100.

This is why you see the sticker shock you see now. Clearly there are some winner/losers to this type of taxing and it does produce some large, unexpected charges for people in your situation.

This type of tax generally benefits those who hold onto their cars longer and is more costly for those who wreck or change cars more often or those that only reside in Georgia for a very short period.
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