Personal property tax is high in MS (Jackson, Brandon: real estate, how much)

[Tama]

Originally Posted by marc515

I just read an article on Hattiesburg, and it noted that personal property tax is about $17.50/$100. It also noted that a new car is taxed at 30% of the vehicle cost, so my math shows: 2010 car purchased at $25,000 would be taxed at 30%, which equals $7,500; $7,500/100 equals 75; $17.50 x 75 equals $1,312. Is that correct? Is the tax really that high? I know it decreases as the value drops, but that is still a lot of personal property tax

Thank you,……marc

Marc I am no tax expert--but your numbers are not based on the assessed value of the car. Never paid thousands of dollars in car tags. Hundreds yes--thousands no.

[Gill O'Blarney]

You can estimate your car tag cost in Mississippi using the link below. Looks pretty reasonable based on what I currently pay in North Carolina.

Estimate Car Tag

[marc515]

I just used the estimator and for a 2009 with a retail suggested price of $27,000, the total came to $1,160 after paying the sales tax

Still seems high, but it is what it is if you want a new car

Marc

[poptones]

Did you try the various municipalities? My bet is you find it varies over a range of several hundred percent. Example, my 2005 Magnum varies from 260.00 (Clinton school district) to more than 1200 in the city of Jackson.

Depends on the millage rates: you pay for location.

[jacksonian]

Originally Posted by poptones

Did you try the various municipalities? My bet is you find it varies over a range of several hundred percent. Example, my 2005 Magnum varies from 260.00 (Clinton school district) to more than 1200 in the city of Jackson.

Depends on the millage rates: you pay for location.

It will vary from one city/county to the next, but it should not be that much different between Clinton and Jackson. Clinton's millage rate is 35.74 and Jackson's is 58.03. If it's $260 in Clinton, it should be about $420 in Jackson.

[jacksonian]

Originally Posted by Gill O'Blarney

You can estimate your car tag cost in Mississippi using the link below. Looks pretty reasonable based on what I currently pay in North Carolina.

Estimate Car Tag

That estimator is way off for used vehicles. It says that I should be paying $183.88 for renewing my tag in Jackson, when in reality it is about $35.

[Gill O'Blarney]

What grace period are they referring to? - Probably obvious to others, but I don't know what they mean.

[jacksonian]

Originally Posted by Gill O'Blarney

What grace period are they referring to? - Probably obvious to others, but I don't know what they mean.

If I understand it correctly, you have 10 days after purchase to register the vehicle, so I'm assuming that is the grace period. Can anyone confirm this?

[Gill O'Blarney]

That sounds right. For some reason, I was interpreting "purchased ---days after grace period", as referring to "purchase of the car". But of course, they mean "purchase of the tag:. Makes sense that way.

So the first and lowest cost calculated is the applicable one, if you buy your tag on time. - And that means in the city of Jackson a tag for a $27000 new car would cost $589, not $1160. - - - If the calculator is accurate and if I'm not mistaken.

And $249 for that same car if you live in the Madison School District (in the unincorporated county).

Those numbers make sense.

[jacksonian]

Originally Posted by Gill O'Blarney

That sounds right. For some reason, I was interpreting "purchased ---days after grace period", as referring to "purchase of the car". But of course, they mean "purchase of the tag:. Makes sense that way.

So the first and lowest cost calculated is the applicable one, if you buy your tag on time. - And that means in the city of Jackson a tag for a $27000 new car would cost $589, not $1160. - - - If the calculator is accurate and if I'm not mistaken.

And $249 for that same car if you live in the Madison School District (in the unincorporated county).

Those numbers make sense.

That sounds about right.