? about Property Taxes on Autos (sales, DMV, calculated)

[RJ17015]

We're trying to get our vehicles registered in SC -- we were told we'd have to pay property tax on our vehicles.

Can anyone tell me more about this, approximately the cost, how often do you have to pay the property taxes on vehicles, how is it calculated.

Thanks!

[Cheri89]

Originally Posted by RJ17015

We're trying to get our vehicles registered in SC -- we were told we'd have to pay property tax on our vehicles.

Can anyone tell me more about this, approximately the cost, how often do you have to pay the property taxes on vehicles, how is it calculated.

Thanks!

Each County may calculate Personal Property tax differently, so you will need to contact your county Auditors office. I used the figures below to calculate my tax and then I called the Auditors office and they gave me an estimate pretty close to what I got. My car is a 1998 and has 165,000 miles on it and I was told I qualify for a high mileage discount too. You'll need to go to the County Auditors office to pay the tax first before you can register your car. The DMV requires your receipt. I live in Dorchester County and this is from their website:

Q: How are personal property taxes calculated?

A: Step 1: Obtain fair market value of the property. Example $20,000

Step 2: Multiply the fair market value by tax ratio. The ratio as of January 2006 is 7.5% and drops .75% each year until it reaches a floor of 6%. The tax ratio for motorcycles, watercraft, and aircraft ratio is 10.5%.
Example: $20,000 x .075= 1,500 Round up to the nearest tenth.

Step 3: The result of the calculation is the “assessed value.” In the example in step 2, the assessed value is 1,500. Multiply the assessed value by your millage rate. The millage rate is based on the area in the county in which you reside. Example: 1,500 x .2825 (mills) = $423.75 Total Taxes Due

Q: How can I get an estimate on my property taxes?
A: Contact the Auditor’s Office and provide the year, make and Vehicle
Identification Number (VIN of your vehicle to the clerk. We will provide an
ESTIMATE of the property taxes

[GaryK]

How does this apply to antique cars over 35 years old?

[RJ17015]

Thanks!

I assume they collect this annually, from what I've researched? This, I assume helps to make up for the low property taxes -- with 4 vehicles it's going to hurt us, one which doesn't run.

We've never paid property taxes on our vehicles -- only sales tax when we purchased, and an annual license plate fee -- so this is new to us.

I guess they need to make their money one way or another.

Thanks again.

[DJShymansky]

It is tied to our annual license plate fee, actually. Once you pay the taxes, you'll receive your stickers/plates.

[Techgeek]

Once a year you get a bill from the county. For me it has always been right around the same amount as my car payment or a little lower more recently

Once you pay they will send you your plate/stickers/registration etc.