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We just purchased a used vehicle.. I got the tax bill a couple of days back. It was way higher than the actual purchase price.
We paid on the road cost of $43,500.
The tax bill is for apprised value of $48,000 .
Is it worth the pain of appeal? I know the process is completely manual/paperwork , so a lot of back and forth I would assume.
Wasn't worth it for me.
That involved a Porsche that was not even in running condition - was actually still in the shop having restoration work done on it, both the engine and some body work, as well.
I wrote letters, made calls, got a statement from the mechanic, got a statement from my insurance agent as to actual value of the vehicle but nope . . . it didn't make any difference at all.
For $5000 difference, I would not even bother.
Maybe others will give you different advice and have had different experiences than mine, which was about 10 years ago.
I appealed my car tax assessment when I bought it used for 10,500$. Tax appraisal was 14,000$. I researched online for very similar vehicles for sale and price and I appeared personally at the appeal meeting. There were actually very few year and make of the car I bought, though I know not if this helped my case. My appeal was granted. I admit this was a personal effort on my part and the tax savings may have been less than the time was worth but I took it personally and am glad I did it. The continuing benefit is that the tax savings (if any) will continue from year to year as the annual value will reflect the new lower amount.
I do not remember the amount. Perhaps 30-40$/year. Take the difference in appraised amount times the personal property tax rate and that is the "savings".
It was as much a self-education experience for me.
I paid...it did not look like they will do it easy. Plus my dealer told me this seems like dmv usual business and they know how to 'take time to get it resolved'
Taxing Districts Tax Rate per $100 Value
CHARLOTTE 0.4687
MECKLENBURG 0.8157
CHARLOTTE 0
reduction is possible, but not as much as you'd think
I just got the assessed value of both a 2015 car and 2014 Class C RV lowered, but not nearly what logic would say they should have been. For example, our 2015 car was originally assessed at $28,000, which was reduced to $23,000-$24,000 if I remember, but you can find pages of the same car on dealership lots selling for $16,000. Likewise the RV got reduced some, but I found brand new, newer models selling for less than the new assessment.
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reduction is possible, but not as much as you'd think
