Quote:
Originally Posted by Funky Chicken
This is a highly exaggerated statement. I am standing completely upright as I type this.
Personal property tax is assessed yearly on your vehicle. It typically runs between 1 to 1.25 percent of the current value of your vehicle. Got a $10,000 car? Your tax will be $125 or less. It is deductible if you itemize.
If you PURCHASE a vehicle here in NC you are charged a "road use" tax of 3% on the purchase price, NOT a sales tax which in NY runs 8 to 9 percent.
A long way from "bent over" IMO. Cheers!
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You also pay the road use tax when you transfer registration of a car from out of state to NC. I thought it was the worlds most expensive license plate, but I was assured I would not have to pay it again for that car! The gal at the DMV was clearly anticipating my reaction.
OMG, i was so busy amusing myself I forgot to say: I make about that much and there are 3 in my family. I'm willing to bet my 14 year old eats as much as your wife and baby combined! It is definitely Do-able. In fact, people who make more should try really hard to live on that much and bank the rest!
Still lots better than the school/property/income taxes I paid in NY, and at least it pays for a road I actually use, rather than taxes in NY state which get flushed down a toilet in NYC.