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Old 06-29-2014, 09:20 AM
 
10 posts, read 27,158 times
Reputation: 10

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Hi everyone. From past posts, it seems like some of you are really knowledgeable about MN vehicle taxes and fees. Hoping I could get some help sorting something out.

We are moving from NC to MN this summer. We have a leased car. NC taxes on that car are sales tax (rolled into monthly payments), and a property tax (paid annually, starting right when you buy/lease car).

When we move to MN, if I'm understanding it correctly, we will need to pay the following starting 60 days after the move:

(1) title
(2) registration
(3) higher sales tax

Also, we essentially lose the property tax paid to NC, since we just paid it this month for the upcoming year. I don't think that gets applied to MN, because there's no MN property tax on cars as far as I can tell.


Just wanted to check if this sounds about right -- or am I missing any MN taxes/fees? (Just trying to get our budget set as precisely as possible before the move.)

Thanks!
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Old 06-29-2014, 06:03 PM
 
50 posts, read 77,849 times
Reputation: 26
I'm from Raleigh. Where are you moving from?
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Old 06-30-2014, 10:11 PM
 
Location: MN
6,556 posts, read 7,136,101 times
Reputation: 5831
All we have to pay for each year is license tabs and they're usually about 10% of the cars value until cars around 10 years old, then the fee is around $50 a year.
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Old 07-01-2014, 06:56 PM
 
Location: Tampa, FL
42 posts, read 44,404 times
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Yes, though I got my license first and waited until my tabs expired from the state I moved from, technically it's 60 days though:

https://www.mvrenewal.state.mn.us/FAQNew2MN.htm
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Old 07-01-2014, 07:16 PM
 
Location: Twin Cities
5,831 posts, read 7,711,998 times
Reputation: 8867
Quote:
Originally Posted by wamer27 View Post
All we have to pay for each year is license tabs and they're usually about 10% of the cars value until cars around 10 years old, then the fee is around $50 a year.
That's too high. Perhaps a typo? It's $10 plus 1.25% of the value of the vehicle, plus a few minor fees added on. Figure $450 on a $40,000 vehicle. I am not sure about sales taxes on leases.
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Old 07-02-2014, 09:02 PM
 
Location: MN
6,556 posts, read 7,136,101 times
Reputation: 5831
Quote:
Originally Posted by Glenfield View Post
That's too high. Perhaps a typo? It's $10 plus 1.25% of the value of the vehicle, plus a few minor fees added on. Figure $450 on a $40,000 vehicle. I am not sure about sales taxes on leases.
you're right, got my decimal point wrong
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