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Old 02-19-2013, 01:50 PM
 
1,552 posts, read 1,390,854 times
Reputation: 869

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Quote:
Originally Posted by UconnHusky1 View Post
Any idea how many residents actually take the mill rate and taxes into consideration when purchasing a new vs. used vehicle? I purposely drive my 2007 sedan and will continue to drive it for another five years because I'm so annoyed by the property tax impact of a new car.
I'm sure some do but I dont as I like new vehicles....but that's me. I dont like the tax and I usually never even think about it until the bill comes.
I just bought a 2013 Hyundai in July so I am expecting at least a $500 bill this year which does suck. Car before it was an 09 Chevy HHR and last years bill was $421.00 and the year before that was $370.00. Value on car went down but bill was higher due to the fact that the mill rate went up........cant win!
Either way, someone pays........
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Old 02-19-2013, 03:55 PM
 
1,679 posts, read 2,488,281 times
Reputation: 1284
Quote:
Originally Posted by MikefromCT View Post
It's cute how you think Republicans are going to save the day once they come to power. New Jersey tried that with Chris Christie, who got alot of applause for not raising state taxes, as well as bashing teachers and freezing their pensions. The only problem with that is it hasn't helped any - his state's credit rating got downgraded, and last year NJ's unemployment rate shot up to 9.8% - highest level since 1977. I hate to say it, but no matter who's in charge we're going to continue to have problems. The booze cruise has hit the iceburg, and now we're sinking - mostly beacause we've been living beyond our means. And when you suggest to someone that they live WITHIN their means, they act like it's a swipe against their civil liberties and we're violating their freedom. Honestly, the only state I know of that isn't having massive budget problems is Montana, whose governor (Brian Schweitzer) is finishing his term with one of the largest surpluses in state history - and he's a Democrat. Bottom line, in a densely-populated state like ours, NOBODY wants to make concessions or sacrifices. It's always somebody else's problem.
Just turn on the TV and LISTEN to what each party's platform.

The Republicans want smaller government, less spending and lower taxes. They are against a 10% spending increase with no shared sacrifice.

The Democrats, Malloy and Obama want increased spending and higher taxes. Just look at what they have done adn what they say they want.

Right now the Republican's in congress want spending cuts. The president, who already got tax increases (just like Malloy) wants more taxes.

If we cut spending at least the state won't go bankrupt.

People are going to move out of the state in droves if taxes continue to increase
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Old 02-19-2013, 04:11 PM
 
Location: OH>IL>CO>CT
4,753 posts, read 7,515,696 times
Reputation: 6360
Question Effect of Car Tax on CT Income Tax Credit

If the car tax is dropped, what would be the effect on the Property Tax Credit on the State Income Tax return ?? Currently there is a max $300 credit.

In my case currently, as a retired renter, my allowed credit ($249 car tax) wipes out what would have been my income tax liability ($152 on my SS & investment income). So it looks like if car tax is dropped, I would save a $249 expense, but incur a $152 expense, thereby saving me a net $97, instead of $152. Oh well.

YMMV.
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Old 02-19-2013, 04:35 PM
 
Location: In a house
13,258 posts, read 34,662,112 times
Reputation: 20198
Quote:
Originally Posted by reed303 View Post
If the car tax is dropped, what would be the effect on the Property Tax Credit on the State Income Tax return ?? Currently there is a max $300 credit.

In my case currently, as a retired renter, my allowed credit ($249 car tax) wipes out what would have been my income tax liability ($152 on my SS & investment income). So it looks like if car tax is dropped, I would save a $249 expense, but incur a $152 expense, thereby saving me a net $97, instead of $152. Oh well.

YMMV.
...meanwhile, the property tax on my home will cover the expense of your right to drive your car on a paved road, since you get to live in your apartment tax-free, and when you're done living there, you're not stuck with a mortgage and unable to move out.
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Old 02-19-2013, 06:14 PM
 
Location: Georgia
421 posts, read 732,716 times
Reputation: 456
Quote:
Originally Posted by AnonChick View Post
...meanwhile, the property tax on my home will cover the expense of your right to drive your car on a paved road, since you get to live in your apartment tax-free, and when you're done living there, you're not stuck with a mortgage and unable to move out.
Yep, its called being tax smart.
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Old 02-19-2013, 06:37 PM
 
338 posts, read 450,536 times
Reputation: 661
Quote:
Originally Posted by AnonChick View Post
...meanwhile, the property tax on my home will cover the expense of your right to drive your car on a paved road, since you get to live in your apartment tax-free, and when you're done living there, you're not stuck with a mortgage and unable to move out.
I'm guessing most landlords will increase their respective tenants monthly rent by the amount of their residential property tax increase.
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Old 02-19-2013, 06:59 PM
 
Location: In a house
13,258 posts, read 34,662,112 times
Reputation: 20198
Quote:
Originally Posted by UconnHusky1 View Post
I'm guessing most landlords will increase their respective tenants monthly rent by the amount of their residential property tax increase.
They aren't taxed based on how many occupants are in the building. It isn't the building that's costing the city money in maintaining the roads, street lights, education for the kids' schools. It's the occupants. The occupants should be paying tax for the privilege of living in that town and using the town's amenities. Call it an Amenities Fee if you don't like the word "tax" but anyone living in any town that collects taxes from homeowners, should also be collecting it from tenants who maintain a residence in that town for more than a transient period of time.

That should be in *addition* to the landlord's property taxes.
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Old 02-19-2013, 08:26 PM
 
1,679 posts, read 2,488,281 times
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Quote:
Originally Posted by AnonChick View Post
They aren't taxed based on how many occupants are in the building. It isn't the building that's costing the city money in maintaining the roads, street lights, education for the kids' schools. It's the occupants. The occupants should be paying tax for the privilege of living in that town and using the town's amenities. Call it an Amenities Fee if you don't like the word "tax" but anyone living in any town that collects taxes from homeowners, should also be collecting it from tenants who maintain a residence in that town for more than a transient period of time.

That should be in *addition* to the landlord's property taxes.
The property tax is passed on to the renters

Economics 101
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Old 02-19-2013, 08:39 PM
 
Location: Coastal Connecticut
14,730 posts, read 17,965,128 times
Reputation: 3334
Quote:
Originally Posted by hartford_renter View Post
The property tax is passed on to the renters

Economics 101
I think the point is it's disproportionate with apartment complexes?
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Old 02-20-2013, 03:22 AM
 
Location: Central CT, sometimes NH.
3,256 posts, read 4,912,235 times
Reputation: 3024
Quote:
Originally Posted by hartford_renter View Post
The property tax is passed on to the renters

Economics 101
Not true. Rental units are taxed less on a per unit basis. I know many 2 to 3-family houses that are taxed at $5000 to $6000. These properties have families living in these units with 4 to 10 kids. In the same town many single family residence are taxed at $6000 to $8000 and have only 2 children on average living in them.

Further raising the RE taxes on the multifamilies is not feasible since the rents on these properties are very low and would result in an even greater degree of neglected upkeep, blight, and abandonment.

The fact of the matter is that it is a vicious cycle. Without economic opportunity and job development the needs of the poor are even greater. Adding services to address needs increases costs and decreases opportunity as well as moving more people on the margin to the need side of the equation.

The game of pushing a tax burden from federal to state to municipal is just an attempt to fool/appease one group by pushing the burden onto another. Everyone needs to have a shared responsibility to pay for services.
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