I don't understand personal property tax?

[jbar1]

But then again the sales tax for that Tundra would have been over $2200 in NY (where I'm from).

[janrey]

sales tax is based on value so yes a new car will be higher but since it's based on value as the car decreases in value the tax goes down.

[cltsig]

So a $28k car = $600 tax. Does that mean a $40k car will cost $850 per year?

[grannynancy]

The taxes go down each year as the car depreciates. If you have excessive mileage you can walk into the tax office and sign a statement with your mileage.

I guess when you put the sales tax in perspective it really is not that bad..........and property taxes in real estate are pretty low in most of the state.

[cltsig]

Originally Posted by grannynancy

The taxes go down each year as the car depreciates. If you have excessive mileage you can walk into the tax office and sign a statement with your mileage.

I guess when you put the sales tax in perspective it really is not that bad..........and property taxes in real estate are pretty low in most of the state.

Thanks. I already understood the depreciation/mileage point. If one brings in cars from another state (like me) I've already paid sale tax at 7ish percent and now will get taxed again. That, along with a 7% income tax, should raise eyebrows from folks coming from low tax states but apparently it doesn't. I guess the low(er) property taxes offset some of that.

[rferd]

If you think that $600 in property tax for a new $28,000 car, think twice. In NJ, I bought a 2004 (brand new-in 2004) for $24,000 and had to pay $1440 (~6%). Now, the sales tax is up to 7%!

[myrc60]

You do not have to pay sales tax if you already paid sales tax in your home state when you purchased the vehicle. Keep your receipts.

[NoodlesKnowles]

You don't have to pay sales tax twice, the property tax is different for each vehicle, and based on the year, mileage, and worth of the vehicle, the tax office says to assess around $100 for every $10,000 your car is worth(roughly). I paid $81 for a 2000 Chrysler LHS(60,000 miles), my wife paid $75 for her 03 Pt Cruiser(50,000 miles) and we moved from NY last year. hope this helps