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05-28-2007, 01:40 AM
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Senior Member
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Join Date: Nov 2006
107 posts, read 92,371 times
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What is the Property Tax on vehicles based on?
I plan on retiring in SC, Summerville area. I need to know what the property taxes would be on a sports car, Corvette about 2-5 years old?
What do they base it on? Value, Age etc etc.
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05-28-2007, 08:34 AM
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Member
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Join Date: Apr 2007
Location: Charleston, SC
11 posts, read 27,659 times
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Yes, both value and age. The newer and more expensive the vehicle the greater the tax. When your car is 15yrs old, there is no tax. I had a BMW about 10 yrs old and paid about $360.00/yr. All things considered, SC is real easy on retired folks relative to taxes.
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05-28-2007, 01:43 PM
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Senior Member
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Join Date: Nov 2006
107 posts, read 92,371 times
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Quote:
Originally Posted by GoCubs
Yes, both value and age. The newer and more expensive the vehicle the greater the tax. When your car is 15yrs old, there is no tax. I had a BMW about 10 yrs old and paid about $360.00/yr. All things considered, SC is real easy on retired folks relative to taxes.
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Thanks, I guess I need to just keep my old 93 Corvette  |
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05-29-2007, 08:31 AM
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Join Date: Mar 2006
Location: Sunny SC
3,111 posts, read 2,745,191 times
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They also asked us how many miles on our vehicles, so I guess that has something to do with it.
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05-29-2007, 11:23 AM
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Senior Member
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Join Date: Apr 2007
Location: Lexington, SC
168 posts, read 177,214 times
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From my understanding (I'm new to SC) it's based on the fair market value of the vehicle and there is a high mileage deduction if you qualify. Not sure what is considered high mileage. I do the tax rate varies by county and possibly even school district. Most county websites have information regarding the tax rate and some even have a calculator.
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