Texas Taxes (Fort Worth, Round Rock: sales, how much, house)

[Shredding_Gnar78]

So I just found out that during a private party vehicle sale, the state uses something called Standard Presumptive Value *SPV* to determine a price, even if the seller sold the car for much less than its supposed value.

so, say you find a good used car that someone is selling like $1000 cheaper than the kbb price (or SPV price) in this case. The state makes you pay 80% of the SPV price.

this is total bs for a couple reasons.

1) obviously it's lame because you are paying a higher amount of tax, regardless of the amount of the transaction.
2) it was already taxed when sold as new! and the 2nd, 3rd, 4th owners etc all have to pay tax on the same item. Re-tax? How is that legal?

So Texans love to mention that there is no state income tax, which is rad... but they get people in the ridiculous property taxes and stuff like this. Its like the state is saying.. come live and work here, but avoid buying a used car or a house.

I suspect the only reason there is no state income tax is due to the oil industry

[Tycho Brahe]

Some states have a use tax which means you pay a tax on your car EVERY YEAR.

[Shredding_Gnar78]

The Texas State Senate - Jeff Wentworth: SD 25 - News Release

"Changing the law is expected to bring in approximately $35 million annually, which will be used to fund public education."

Now, correct me if I'm wrong, but didn't they just cut a few hundred teachers in Round Rock?

Someone told me today that Rick Perrys house is rented for $10,000 month and paid for by State Taxpayers.

[jbiggs]

Originally Posted by Shredding_Gnar78

I suspect the only reason there is no state income tax is due to the oil industry

The only reason there is no state income tax is that Texas makes it up on all of the other taxes they use to rape the residents here! Don't forget the 8.25% sales tax which they will eventually get around to raising.

[jbiggs]

Originally Posted by Shredding_Gnar78

Someone told me today that Rick Perrys house is rented for $10,000 month and paid for by State Taxpayers.

Does that include the personal Chef's, maintenance, personal Doo worker (hair stylist), security, etc., etc.? And now how much is it going to cost the Texas taxpayers to help Gooberner Perry run for President?? Before anyone attacks that statement consider this that Perry will be out and around the country campaigning while he is still being paid as Gooberner of Texas. Therefore the taxpayers will be paying his salary and all of his normal Gooberner expenses while he is doing nothing for his elected position. Perry did state he will not be resigning as Gooberner while he pursues the election.

WAKE UP TEXANS!! Send a message out to the DooMan that he needs to resign if he plans to run for president.

[sinking]

Originally Posted by jbiggs

The only reason there is no state income tax is that Texas makes it up on all of the other taxes they use to rape the residents here! Don't forget the 8.25% sales tax which they will eventually get around to raising.

Exactly. Every time I turn around I am paying another tax at a high percentage. Just not income tax but that hurts me more because I don't make much. An income tax with lower taxes on everything else would put less of a strain on me.

[getmeoutofhere]

Originally Posted by Shredding_Gnar78

1) obviously it's lame because you are paying a higher amount of tax, regardless of the amount of the transaction.
2) it was already taxed when sold as new! and the 2nd, 3rd, 4th owners etc all have to pay tax on the same item. Re-tax? How is that legal?

1) People were cheating the system. Now everyone pays.

2) You're still buying a good, which is subject to tax. Anything re-sold is taxed....movies, CD's, clothes, etc. Go into any resale shop and buy something and you'll pay sales tax on it. It's called "sales tax" because they are taxing the sale.

[bluescreen73]

Originally Posted by jbiggs

Does that include the personal Chef's, maintenance, personal Doo worker (hair stylist), security, etc., etc.? And now how much is it going to cost the Texas taxpayers to help Gooberner Perry run for President?? Before anyone attacks that statement consider this that Perry will be out and around the country campaigning while he is still being paid as Gooberner of Texas. Therefore the taxpayers will be paying his salary and all of his normal Gooberner expenses while he is doing nothing for his elected position. Perry did state he will not be resigning as Gooberner while he pursues the election.

WAKE UP TEXANS!! Send a message out to the DooMan that he needs to resign if he plans to run for president.

Dubya did the same thing. He didn't resign until after he was elected president. Hell he even skipped out on his constituents after the Fort Worth tornado because he was busy at a presidential fundraiser. Then-Lieutenant Governor Perry toured the damage and met with the families of the victims instead.

[jazznblues]

Originally Posted by sinking

Exactly. Every time I turn around I am paying another tax at a high percentage. Just not income tax but that hurts me more because I don't make much. An income tax with lower taxes on everything else would put less of a strain on me.

It's "all abouit me" isn't it? Texas should change its tax structure for you!

[hoffdano]

Originally Posted by Shredding_Gnar78

So I just found out that during a private party vehicle sale, the state uses something called Standard Presumptive Value *SPV* to determine a price, even if the seller sold the car for much less than its supposed value.

so, say you find a good used car that someone is selling like $1000 cheaper than the kbb price (or SPV price) in this case. The state makes you pay 80% of the SPV price.

this is total bs for a couple reasons.

1) obviously it's lame because you are paying a higher amount of tax, regardless of the amount of the transaction.
2) it was already taxed when sold as new! and the 2nd, 3rd, 4th owners etc all have to pay tax on the same item. Re-tax? How is that legal?

So Texans love to mention that there is no state income tax, which is rad... but they get people in the ridiculous property taxes and stuff like this. Its like the state is saying.. come live and work here, but avoid buying a used car or a house.

I suspect the only reason there is no state income tax is due to the oil industry

It isn't total BS, regardless of whether you like it or not. As said already, if you buy used goods, they are usually taxed. Buy a used car from a dealer, and you pay sales tax. The law on a private party sale prevents people from reporting a sale price lower than actual to avoid payig taxes. If you bought a $10,000 vehicle from a friend, who agreed to only report it as a $5,000 sale (even though you paid him $10,000), you are cheating.

BTW - I think many states tax used cars like this.