Who Wants to Compare Personal Property Taxes? [ADMIN WARNING: NO POLITICS]

[Vtur]

DMV fees are stupid in California. On my 73 Nova which is now 40 years old, I still pay 240 dollars per year. It used to be 40-60 per year till our government decided to go crazy.

On a side note, California is about to start paying extra taxes for people buying homes with good credit. If you’re 680 plus, they tack on an extra 1-1.5% in taxes to the house you buy. If you’re less than 680, you get 1-1.5% back in taxes. So you bust your a$$ to get good credit and it bites you in the a$$

My blood was boiled when i saw this on the news. Their plans is to slowing down peoples with good credit and money from buying, so those with bad credit can. However, that doesn't solve the issues with foreign buyers paying all cash. There's no incentive to be a good citizen in Cali.

Sponsored

 

[Camaroboi13]

My blood was boiled when i saw this on the news. Their plans is to slowing down peoples with good credit and money from buying, so those with bad credit can. However, that doesn't solve the issues with foreign buyers paying all cash. There's no incentive to be a good citizen in Cali.

Correct, the Asian with a suitcase full of money era is still going to be there regardless of credit score. I work for the state of California with a very good pay, a good retirement, and lots of other good perks. So I’m stuck here for 11 more years unfortunately. The first thing I’m doing when I retire is selling my house and moving closer to Moab.

 

[CJ99x]

It looks like some states get the money in different ways.

Virginia collects a sales and use tax of 4.15% when the vehicle is titled. There's a $75 minimum.

The annual vehicle inspection fee is $20.

The annual vehicle registration fee is $30.75 to $35.75.

They just changed our inspection stickers to two years starting next year I believe. Our fuel and gas taxes over here are on a trigger by price thanks to the lovely Joe Manchin. Our registration fees went up a couple years back when Justice took office to around 56 if I remember right. We can get two year plates but to get the plates here you have to have all your taxes paid for PP. Real Property here probably will skyrocket soon as they changed the law on Personal to give the money back so they could list "industry" possessions as something to give them all their money back. They have been trying to eliminate the inventory tax but the amendment failed for the legislature.

 

[ZoMojave]

Personal property tax in WI = $0. Annual registration fee for the new WL74 in the stable = $85.

 

[AmosMoses]

Had no idea some states charge personal property tax.

How many states still have yearly emissions testing? Ohio had it until about the mid 2000's.

 

[The Welsh Griffin]

Damn I'm gonna look for a good Union job in the states. We are getting hosed up here.

 

[Gvsukids]

Guess this shows that research will go a long way before choosing where to live.

License/registration required for trailers. Amount depends on the trailer and the weight capacity. My car hauler costs more per year than a 7'x6' small utility trailer I have with 1 axle and 2 small tires.
But both are pretty cheap. Both require a plate.

Lifetime trailer plate in Michigan is based on trailer weight.
Not enough of our money goes to roads.

My blood was boiled when i saw this on the news. Their plans is to slowing down peoples with good credit and money from buying, so those with bad credit can. However, that doesn't solve the issues with foreign buyers paying all cash. There's no incentive to be a good citizen in Cali.

Or ending the 1099 worker.

 

[Hootbro]

It looks like some states get the money in different ways.

You have to visualize each state’s tax revenue as a pie chart with each slice size (tax type) representing how they make the pie whole. Every state will have different degrees of that slice percentage size in how they make their budgets. Some will lean on sales tax with some that will lean on property or personal property tax more heavily.

A general rule is that states that call themselves “Commonwealth” (Kentucky, Massachusetts, Pennsylvania, and Virginia) generally will lean into personal property tax more heavily than other states.

How each state’s taxation will affect each person differently based on their living circumstance. Some states, owning a home or business with actual property taxation will affect someone differently than someone who rents who pays a lesser levelized property tax as part of their rent or someone still living at home with their parents or other friends and relatives. State income or the lack of it will also have its own +/- to each person.

About 15+ years ago, I had to move from Texas which had no state income tax but high sales and relative high property tax which in reality to the property tax there, the majority of that property tax was masked school tax to a job in the Philly PA suburb area. I had to weigh the pro/cons of picking where to live in PA, NJ and DE. Since I planned to be purchasing a new home, Delaware offered me the best value for their lower property tax, no sales tax and a 3.5% income tax I was now having to take on. Delaware is somewhat unique to other states in that they rely very heavy on business incorporation and corporate tax policy and is why many if not most large corporations have Delaware incorporation listed.

While Delaware does not have a general goods sales tax, they do have a 1.5% first time “registration” tax for new and used vehicle bought or brought into the state. After that, it is about $40 a year for continued registration for anything under 7K pound.

 

[VolInGa]

Tennessee is so ridiculously high on everything!!! 1000's of $$$$$ a year on land, vehicles, food, everything!! No one else should move here. EVER!!! They tax you to death then tax you for dieing!! No one eles move here! You have been warned!

Ok so I'm stretching it just a bit. We have a pretty good tax structure here. No state income tax. My home on 5 acres runs $950 a year, tags are $74 a year for cars and trucks per tag. Speciality tags are $115 a year. Motorcycles are $50ish a year. We do however have one of if not the highest sales tax in the nation at 9.25% and that includes big items like Jeeps. At least everyone in the state pays the same tax fairly. So based on that, as mentioned above, no one else should ever move here!!

I would second this. Don’t move here! Tags are cheap, but vary from county to counting if a wheel tax is applied. Sales tax is ridiculously high and if people would stop moving here property taxes would stop rising. Just got my re-appraisal the other day, the county is telling me my house more than doubled in value. I’m trying to get them to buy it from me for their appraised value, less 10%. No luck yet…..

 

[Lunentucker]

In hindsight, it might have been better to ask what everyone pays per annum in taxes and fees associated with the JT. It's very interesting to see the broad spectrum of methods and numbers.

 

[Wheelin98TJ]

Had no idea some states charge personal property tax.

How many states still have yearly emissions testing? Ohio had it until about the mid 2000's.

Michigan vehicle license plates are technically a personal property tax because they are based on the original cost of the vehicle.

This makes it a deductible expense if you itemize.

It's about $275 annual cost for plates on a $55k vehicle in Michigan.

 

[Sponge60]

North Carolina doesn't have a state property tax beyond initial DMV on the purchase (3%). Counites / municipalities set their own property tax rates. I'm on the coast, and our county uses the same rate for real property as well as vehicles, boats, etc. That tax is general rate, sanitation and service district (such as fire). My current rate is 60.5 cents per hundred. For registered vehicles, you have to pay the property tax AND your DMV renewal at the same time. I think the Gladiator is roughly 250 a year plus DMV.

 

[ShadowsPapa]

Michigan vehicle license plates are technically a personal property tax because they are based on the original cost of the vehicle.

This makes it a deductible expense if you itemize.

It's about $275 annual cost for plates on a $55k vehicle in Michigan.

That's fairly inexpensive, IMO - of course, I'm used to much higher rates.
Federal taxes allow for your primary vehicle license/registration to be deducted if you itemize. We do.

What some may forget is that like Hootbro has said - every state is collecting money, it's how they do it that varies. FL has all the tourists and retirees and so on. Think of the people who fly there, spend a week or so, visit all of the attractions and stay at hotels. I've never paid so much for hotels in my life as I did down there. They make up for lack of state income tax during spring break, I'm sure LOL.
And some states it must be crazy expensive to make and maintain roads. Tunnels, chopping into the side of a mountain - not cheap. Heavy trucks on the interstates, hot and cold - heaving in the winter and summer.
In Iowa, it's the farm to market roads. In some parts of the state where it's more easily done, there's a road every mile east and west, and one every mile north and south. Every-other road is to be hard surface in some areas - "farm to market" roads. So you drive along a highway, that road is gravel, a mile later the next is paved, then the next gravel, the next paved and so on. Not cheap to do. Summer heat buckles roads, winter frosts - and this last winter was a road killer - constant freezing and thawing. The topsoil moves around.
I can imagine some states are worse - not suggesting we have it bad here as there's always worse cases by far. Roads in parts of FL must be tough, same for LA. Marsh and swamp, moving ground, sand, peat, whatever.
We have no tourism here, about the only reasons to come here and stay in a hotel is the Iowa State Fair. So we don't get that hotel tax or tourists spending money.
TX gets our snow birds each winter - people, many of them farmers, go down there and spend spend spend and come back up here to make the money. So a lot of our money leave and goes south to TX or FL.

2.5 acres, 3 if you count the public right-of-way (*the road out front that you own part of but can't dig up and use)
1,000-1,100 sq ft house (depends on if you count any basement space, etc.), older home from 1980, detached uninsulated unheated garage, my shop is a pole building on the south edge of the lot. Just about $4,000/year property taxes and they sent us all letters jacking up valuations by HUGE amounts, some 20% or so.
A lot of it is the SE Polk school district that spends money like it was water. Fancy new HS that beats most college buildings. Some corporations don't have a building that nice and fancy, with a big glass atrium, it's something like you'd see at a really fancy mall. Then roughly 23 million on a new football stadium that some have written about showing how it beat the heck out of what many colleges have.
Waukee is out-doing them, though. Sunken football stadium so people in the upper tiers are at ground level and simply walk to their seats.
Their school is 3 stories on 90 acres of land.

(No wonder there's no money for school supplies)

 

[Wheelin98TJ]

Federal taxes allow for your primary vehicle license/registration to be deducted if you itemize. We do.

License plates can only be deducted if they are based on the value of the vehicle.

Ohio for example, plates are not deductible. The cost for Ohio plates is the same for everyone and is not based on the value of the vehicle.

 

[ShadowsPapa]

License plates can only be deducted if they are based on the value of the vehicle.

Ohio for example, plates are not deductible. The cost for Ohio plates is the same for everyone and is not based on the value of the vehicle.

It's a combination of WEIGHT and value of the vehicle here. It's not a straight value tax. So a heavier vehicle of the same value will cost more to license here. If I spend 60K on a vehicle that weighs 3500 pounds it will be cheaper to license than a 60K vehicle that weighs 5500 pounds.

Because a JLU Rubicon 4xe is so very heavy, it's expensive to license here - they then tack on a full 1% of the MSRP on top of the weight and value rating. So even though we save on gas - we make up for it in registration fees pretty much negating savings depending on how you drive a PHEV. We'd never make up that extra $65 registration fee for a PHEV in gas savings. Just can't happen, so Iowa is pretty PHEV unfriendly. My wife would have to drive short trips almost daily to offset that 65 bucks in gas savings.

Sponsored