Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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?
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?
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?
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.
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.
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..
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...
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
For vehicles less than eight years old, documentation of high mileage from an annual inspection, oil change or other invoice
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.