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Old 10-21-2008, 01:11 AM
 
Location: Astoria, NY
6 posts, read 18,657 times
Reputation: 11

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Specifically in HSV proper. Is this snippet from al.com accurate?

Quote:
As for auto registration, $24.25 pays the basic fee, but you'll pay an ad valorem tax on top of that. Count on vehicles being assessed at 15% of market value but the tax is computed by multiplying the assessed value times the local mileage rate. Example: ($10,000 vehicle x 15% = 1,500 x city mile rate of .0515 = $77.25 Ad Valorem tax).
Because as I read it, the official Madison Co. site (which appears to have been created circa 1998) makes no mention of the mileage rate. Losing sleep over paying 15% of Blue Book to get my car legal. Any insight?

Thanks.
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Old 10-21-2008, 07:09 AM
 
369 posts, read 1,141,013 times
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The term is actually millage rate not mileage rate, and you do not have to worry. Huntsville typically has the highest millage rate, with Madison city close behind, and then the rest of the municipalities and unincorporated county are notably less.
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Old 10-21-2008, 08:56 AM
 
23,529 posts, read 69,951,025 times
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Look again at the math. First they take the blue book value and multiply it by .15 THEN they compute the ad valorem, which is about five percent of THAT figure. You aren't paying 15% of blue book. You are paying less than 1% of the blue book value.
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