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Ouch... KBB Highest Value? That hardly seems fair. But I am realizing, as I mentioned in a different post that I made, that everything seems like it will even out. While we will have to pay property tax on the vehicles, property taxes on homes are very low. While electric bills may be higher, gas wills will definitely be lower. Etc.
SSD3... you probably have to itemize your deductions on your tax return in order to deduct the tax, but yes, it should be tax deductible.
Yep, my insurance rates about make up for the difference in registration/taxes
The tax rate is 3% up to a maximum of $150 per vehicle per year.
I believe you're thinking of the Highway Use Tax (HUT). The HUT is a one-time state tax on vehicle registrations. Most newcomers will get a break from the DMV and will pay $150 or less per vehicle when moving their out-of-state vehicles into NC.
The yearly property tax on motor vehicles is a local tax. The tax rate will vary greatly depending on your location within the state. Some folks will pay the county rate only, while others will pay the county rate plus the city rate.
So car insurance rates are low in NC? Right now, we're paying about $1080 per year for 2 cars, 2 drivers in Ohio.
What about homeowner's insurance? Is that low too? We're paying about $500 per year (i can't remember exactly) for a $315K home.
Car insurance is low compared to a lot of areas in the country. Sounds like it may be on par with your area. We pay about $800 per 6 months on two relatively new cars (1 and 2 years old). The main reason we're lower than a lot of places is because we have vehicle inspections yearly which include a "safety" inspection...so it tells the insurance companies that we're not driving around on bald tires with no brake lights.
Home insurance, again, is relatively cheaper than most places int eh country...but sounds about right on par with you. We pay about the same on a little less expensive home.
So car insurance rates are low in NC? Right now, we're paying about $1080 per year for 2 cars, 2 drivers in Ohio.
What about homeowner's insurance? Is that low too? We're paying about $500 per year (i can't remember exactly) for a $315K home.
I think it depends. It's actually a few dollars more per month here than it was in Chicago for our car.
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