z or vette

Nargrakhan · 10-08-2014, 09:29 AM

Since we're on the topic of costs, I thought I'd just randomly rant something...

Not sure how taxes work for others here, but in my state of Virginia, we have to pay a yearly property tax for cars. The minimum amount is 4% of the car's value (based off KBB) -- some cities add an extra 0.1 to 0.3 for skimming revenue.

There's a relief of sorts which lowers the tax, but it's a complicated calculation based off your income, the car's value, it's gas demand, etc. Needless to say, what I make and the C7 won't get a tax break... so basically I'd pay at least $3000 a year on taxes just owning it.

So that's a major reason why I stay under the $50K line. I could own a GT-R or six figure monster, but I'm literally throwing away money because of the vehicle property tax. I just can't get myself to do that.

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10-08-2014, 09:29 AM	#16 (permalink)
Nargrakhan Base Member Join Date: Feb 2014 Location: Nowhere Posts: 176 Drives: Nothing Rep Power: 12	Since we're on the topic of costs, I thought I'd just randomly rant something... Not sure how taxes work for others here, but in my state of Virginia, we have to pay a yearly property tax for cars. The minimum amount is 4% of the car's value (based off KBB) -- some cities add an extra 0.1 to 0.3 for skimming revenue. There's a relief of sorts which lowers the tax, but it's a complicated calculation based off your income, the car's value, it's gas demand, etc. Needless to say, what I make and the C7 won't get a tax break... so basically I'd pay at least $3000 a year on taxes just owning it. So that's a major reason why I stay under the $50K line. I could own a GT-R or six figure monster, but I'm literally throwing away money because of the vehicle property tax. I just can't get myself to do that.