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Old 04-07-2011, 07:28 PM
 
Location: Wake Forest - New Light
1,263 posts, read 4,931,708 times
Reputation: 1001

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Wake County is crazy...they have my 2006 Hyundai Sonata valued at $8,500.00 LOL yeah right...My car although clean and well maintained has 99,200 miles...No way is it worth $8,500.00, recent dealer trade in assessment was not even half of what they're claiming is the value. Where do they come up with these figures?

I'm appealing this, no way am I paying this inflated amount...last year it was valued at $8,700.00 so it only depreciated $200.00? NUTS! I didn't have time last year to do an appeal, but this year for sure...a matter of principal now.

I'm gathering my papers and will take it to my local dealer for an oil change and to document the current mileage; send in the necessary papers.

Has anyone on the forum appealed tax value in Wake County on their vehicle and been successful?

Thanks.
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Old 04-07-2011, 08:08 PM
 
1,997 posts, read 3,563,339 times
Reputation: 1594
My Car went from 24.7k to 18.6k between 2009 and 2010. I don't think they take millage into account, just make and model. Whats the bill for 8.5k, around 80 bux a year?
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Old 04-07-2011, 08:16 PM
 
10 posts, read 50,535 times
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Let me know how it works for you, I may try to do the same thing.
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Old 04-07-2011, 09:02 PM
 
Location: Wake Forest - New Light
1,263 posts, read 4,931,708 times
Reputation: 1001
$107.22


Quote:
Originally Posted by zinner View Post
my car went from 24.7k to 18.6k between 2009 and 2010. I don't think they take millage into account, just make and model. Whats the bill for 8.5k, around 80 bux a year?
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Old 04-07-2011, 10:12 PM
 
832 posts, read 2,509,575 times
Reputation: 490
I believe the process involves having the car appraised. If this costs more than $50 to do, it's a wash as that's all you can potentially lower your tax bill by if you say the true value is half of the tax value.
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Old 04-07-2011, 10:27 PM
 
Location: Triangle NC
426 posts, read 1,486,482 times
Reputation: 238
Wake County is insane with their vehicle valuations!

Quote:
Motor Vehicles are valued by year, make and model in accordance with the North Carolina Vehicle Valuation Manual. Values are based on the retail level of trade for property tax purposes. A motor vehicle offered for sale by a dealer to the end consumer represents the best example of the retail level of trade. In addition, the retail value of the motor vehicle is determined as of the January 1 of the year in which the taxes are due.
Licensed motor vehicles are not valued at wholesale, blue book or private party asking price for property tax purposes. Sales transactions between private buyers and sellers and Internet valuation lookup websites typically reflect these levels of trade.
Source - WakeGOV.com - Vehicle Taxes

Go to WakeGOV.com - Appealing Tax Values for info on what are the grounds for an appeal and how to appeal (High mileage in a car less than 8 years old counts!)

We were shocked when we received our first NC tax bills for our cars in 2008. The bill and valuation on my Dh's 2002 Honda Accord was twice that of our 2007 bill in MA We appealled the value based on high mileage (DH had a terrible commute in MA - 45 miles each way). Didnt cost anything, I mailed a copy of the latest inspection report noting the mileage. The appeal was granted and they reduced it by about 30% (cant remember exact $/%). Now, 3 years later, we are finally at the valuation/$ we paid in MA in 2007!

Had no grounds for appeal on my Odyssey but it ended up evening out. Got a brand new one a few weeks after the tax billed and transferred the plate. So instead of paying a fortune in 2008 property tax for the new Odyssey, we paid for a 5 year old one. Off course they nailed us the next year etc. This year we are still paying close to $200 for a 3 year old car!

Last edited by MammaLakn; 04-07-2011 at 10:36 PM..
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Old 04-08-2011, 08:56 AM
 
Location: Wake Forest - New Light
1,263 posts, read 4,931,708 times
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Thank you for the information...I will go with the high mileage angle for my appeal...I'm not paying to have the car appraised...There is no way a dealer at retail level would sell my 5yo vehicle for $8,500.00 with that mileage....granted the vehicle is in great shape but has high mileage...It's a matter of principal...if they adjust the bill by $30-$40.00 that's money in my pocket and not the county...
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Old 04-08-2011, 09:30 AM
 
374 posts, read 1,178,161 times
Reputation: 260
Just FYI they do not go off of the trade in value. They go off of the retail value which is what a dealer would sell the car for. As far as I can tell the $8500 seems to be about right for your car

EDIT - Also another reason it only dropped $200 is probably because used car values have been increasing
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Old 04-08-2011, 11:16 AM
 
Location: Raleigh, NC
5,776 posts, read 6,825,101 times
Reputation: 10046
Quote:
Originally Posted by nynraleigh View Post
I'm not paying to have the car appraised
I doubt you will be successful without a written appraisal. They clearly state what they will and will not accept.

WakeGOV.com - Appealing Property Tax
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Old 04-08-2011, 02:12 PM
 
Location: Wake Forest - New Light
1,263 posts, read 4,931,708 times
Reputation: 1001
For vehicles less than eight years old, documentation of high mileage from an annual inspection, oil change or other invoice
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