Tax assessment '94 RT/10: $46k!!!

[AviP]

From a CT town website:

"Three types of property are assessed and subject to taxes: Real Estate, Motor Vehicle, and Personal Property. Any land or buildings you own are considered real estate. Registered motorized or unmotorized vehicles, including cars, trucks, trailers and motorcycles, are considered motor vehicles for tax purposes. Personal property is a general category which includes business equipment, machinery, furniture and fixtures either owned or leased by business. Unregistered motor vehicles are also taxed as personal property."

On the low end, the rate is about $14 per $1000 of assessed value. Assessed value is 70% of appraised value.

So for an appraised value of $40K for a 1997 GTS, an assessed value would be $28K. And the tax would be $14 * 28 = $392. This number varies by the mill rate (tax rate) decided by each city.

There is a similar tax in MA too. Luckily for me, in 1997, they did not know anything about a Viper GTS and they assessed it at $10K.

But do you wonder why so many rich hedge fund managers are based in CT. It's a great tax haven for Wall St compared to NY and NJ.

 

[Finally got it !]

Wallingford, CT here. When I went ape **** at town hall over the assessment on my Ford GT the dip**** told me they called three local dealers and asked what they would sell my car for!!!!! Needless to say after the discussion that infolded with the town attorney that practice soon ended.......

P.S the bill was 3400.00........

 

[00VPRGTS]

I live in Prospect, CT and they accessed my 2000 GTS at $26,000, my 2005 Acura TL at $23,000 and my 2000 Corolla at $4,000. Luckily Prospect's MIL rate is reasonable, total cost was something like $1,325 for the year plus my house tax of course.

At least CT gives movie producers a tax cut to come film in state now. Seems fair, I mean all they did was close a major highway for 12 hours so they could film one scene in the movie the other week. Like we don't have enough traffic problems in this state as it is.

 

[viperrmike]

I just have to pay $35.00 for license in Iowa. Down from over $650.00 when I first got it.

 

[00prowler]

345.00 in Vernon Ct and not complaining...Good thing they dont tax my 30K in mods....AL

 

[propsail]

Re: Tax assessment '94 RT/10: $46k!!! **UPDATE**

Update****

I had my tax assessment appeal and they lowered the accessment to $23,000 from the original 46K. They'll be refunding me about $600. Instead of a $1,000 tax bill, I'll pay 400. A little more palatable now.. A big part of me wishes it was worth 46k, that's for sure!

~Craig

 

[Paul Hawker]

Most taxing authorities simply take the original price of the car, and reduce it by a percentage every year. They do not actually determine the resale value of every car, every year.

Take them a KBB price or something like than, and depending on their policy they may reduce your valuation.

 

[xlrashn]

I only pay $35 per year to license here in Iowa as well. Thats it. Once you buy it and pay the 5% sales tax it is just the yearly $35.

 

[427Aggie]

I love Texas more and more...while we have a little bit of a high property tax we have no income tax and pay 6.25% sales tax on the car when bought...other than that..

I pay about $50 bucks a year and $30 bucks to have it inspected and I'm off...I don't want to think what they would charge me for the GT up in CT...would be $4000 a year to drive it 2000 miles...thats bull****!

 

[Tusc]

LOL - CT members represent!

I've never had an excessive value hit me yet like my neighbor downtown with his GT, but I've been taxed for cars I no longer own and even after storming the old high school (now town hall) with proof of my plates being turned-in they still weren't ready to acquiesce.

The State may be offering tax breaks for film makers, but the town I live in is still **** about letting anyone in for that purpose. Imo, they can shut down 25 all they want, but shutting down the New Haven train station is something commuters can't simply redirect past. I got stuck waiting to get to NYC while they finished filming a woman and a child run across the main station area. Looked like a 40s period film.

CT isn't ALL bad.... sure we pay through the nose for gas, but we don't have annoying toll stations.

 

[Hot Rod]

I used to pay over $1,000 per year on my Viper while living in CT (Southbury). I also had to pay about $300 on my Harley. It's the same rate as real estate.

I moved to Dallas TX last year - so my annual vehicle tax is now zero. I think you have a good case to reduce the appriased value.