Tax assessment
#1
06-29-2018, 07:12 PM
Tax assessment
I have a 2014 V8V with a manual transmission that I purchased new.
Just received my property tax bill and realized that the car was assessed for $125,000. It is a truly beautiful Vantage with extremely low mileage but the assessment is obviously ridiculously high. Any ideas on how to prove to my tax assessor that it's value is significantly less?
Thanks
Just received my property tax bill and realized that the car was assessed for $125,000. It is a truly beautiful Vantage with extremely low mileage but the assessment is obviously ridiculously high. Any ideas on how to prove to my tax assessor that it's value is significantly less?
Thanks
#2
06-29-2018, 08:43 PM
Kelly bluebook would be a start. Do the math and ask why market shows less than they think. Get an appraisal at a local dealership on actual value to replace. I would say its less than $100k based on market.
#4
06-29-2018, 10:04 PM
I'm pretty sure they use some special version of the NADA blue book that we don't see. Unless they made some kind of mistake during lookup, there's little hope of changing it. I also thought they used 75% of the value, whichever value that is. I agree that your value is way out of line. FWIW, my 14 Vanquish is valued at $129k.
#5
06-30-2018, 04:50 AM
Comments are appreciated.
I will contact my assessor's office on Monday and at least attempt to discover their valuation source. My understanding is that the tax is determined at 70% of the assessed value. The town's mill rate then is applied.
On a brighter note they greatly undervalued my 2015 R8.....haha
I will contact my assessor's office on Monday and at least attempt to discover their valuation source. My understanding is that the tax is determined at 70% of the assessed value. The town's mill rate then is applied.
On a brighter note they greatly undervalued my 2015 R8.....haha
Last edited by larryg; 06-30-2018 at 04:56 AM.
#6
06-30-2018, 05:43 AM
Addendum:
Just looked over my tax bill and realized that in fact my Vantage was actually assessed for $91000.
Our mill rate of 27 will be applied to $63700 which is 70% of the assessed value.
Not too bad.
Thanks
Just looked over my tax bill and realized that in fact my Vantage was actually assessed for $91000.
Our mill rate of 27 will be applied to $63700 which is 70% of the assessed value.
Not too bad.
Thanks
#7
06-30-2018, 09:02 AM
Going off on a bit of a tangent here, but I had to do a double take when I read the OP. Do property tax assessments in the States really include automobiles?
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#8
06-30-2018, 09:21 AM
CT taxes everything
Every city/town in CT taxes homes, vehicles, etc
We also have a CT state income tax
All of this was at least deductible until our President limited state tax write offs to $10,000.
This overwhelmingly impacted blue states!!
Every city/town in CT taxes homes, vehicles, etc
We also have a CT state income tax
All of this was at least deductible until our President limited state tax write offs to $10,000.
This overwhelmingly impacted blue states!!
#9
06-30-2018, 09:27 AM
Sure, I get it (I'm Canadian and you can bet I know all about taxes). I'm just curious if the vehicle is actually tied to your property tax in CT (as seems to be the implication from your post), as that seems a bizarre way of doing things. I mean, where would it stop: could they say, well you have clothes and appliances in your home so we'll assess and tax those, too??
#11
06-30-2018, 10:23 AM
You are correct sir. They tax us on everything in Connecticut. Please don't give them any ideas.
#12
06-30-2018, 10:36 AM
CT has taxed cars for 40 years or more. In theory, at least decades ago, they had lower property taxes. Connecticut also didn’t have an income tax until the 1980s I believe.
I suspect Volvo’s used to be popular in the 80s and 90s because they didn’t rust like American and Asian cars so you could run them for 15 years or longer. That was a good strategy if you hate paying taxes. I now live is a state that doesn’t apply property taxes to cars. Will never go back to CT.
I suspect Volvo’s used to be popular in the 80s and 90s because they didn’t rust like American and Asian cars so you could run them for 15 years or longer. That was a good strategy if you hate paying taxes. I now live is a state that doesn’t apply property taxes to cars. Will never go back to CT.
#15
06-30-2018, 03:18 PM
Some people register their cars in Montana to avoid the property tax. My tax bill for the 5 cars I have is $10k, so I'm really feeling the pain.