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I totally disagree, I would like to see a dealer list a 5yo car with 99k miles for $8,500.00 on their lot...it's not a BMW/Mercedes, it's a Hyundai.
Quote:
Originally Posted by hammester
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
I successfully appealed the tax value of my wife's van. It was easy because it was a new vehicle - just sent them a copy of the bill of sale. Their value on the vehicle was $36,000+, when we only paid $23,500 for it. Now I have a feeling they will not depreciate it much the next few years, but we will see. Difference in tax was ~$120 per annum.
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.
NC will tax you to death.Good for you in fighting it.If more people did so,and not sat around accepting things,the good ole boy network would be forced into this century.
New to the area - I don't understand this vehicle tax thing. My previous state didn't have a vehicle tax. I paid taxes on my car when I bought it. Why would I pay taxes again on the same car? What's the money used for? And finally, when you buy a car in North Carolina, don't you pay a tax at the time of purchase?
Have done in Forsyth County. Was cut about in half. From about $150 to $98. Here is the thing it was done for the next year. You have to show that the vehicle is lower in value. Mine very high miles, oil leak had been wrecked and repaired. You can try. But, you have to prove.
I've appealed before. It's relatively easy. No appraisal is needed. Use the high mileage and it will be reduced. Just have to give evidence of high mileage.
New to the area - I don't understand this vehicle tax thing. My previous state didn't have a vehicle tax. I paid taxes on my car when I bought it. Why would I pay taxes again on the same car? What's the money used for? And finally, when you buy a car in North Carolina, don't you pay a tax at the time of purchase?
When you buy a car in NC you pay 3% highway tax instead of sales tax.
When you register your out of state vehicle in NC you will be assessed 3% highway tax up to a max of $150 per vehicle.
About three months after you register your vehicle (and every year there after) you will receive a bill for vehicle property tax. I just paid ours a few mins ago, its distributed as:
Wake County:
Public School Operating: 0.2693
Distribution - School Building: 0.11830
County Services (Human services, Public Safety etc): 0.14640
I totally disagree, I would like to see a dealer list a 5yo car with 99k miles for $8,500.00 on their lot...it's not a BMW/Mercedes, it's a Hyundai.
It's a non-arbitrary assessment. They purchase a master list of vehicles and their retail values from a vendor and calculate what's owed automatically.
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