Bend Over!
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Originally Posted by animeS2K,Oct 23 2007, 09:51 AM
if you think about it the state does pretty well just on car sales tax... MD example...
You buy a car for $30k - you pay $1,500 tax
Trade it in on a new $30k car, difference is $15k - you pay $1,500 tax
Dealership resells car for $20k, new buyer pays $1,000 tax
Car is resold for $10k, new buyer pays $500 tax
Car is at end of life, state has picked up $3,000 in sales tax alone during the life of the car, an effective tax rate of 10%... I'm no economist and all the numbers are made up, but used cars are definitely good for the state.
You buy a car for $30k - you pay $1,500 tax
Trade it in on a new $30k car, difference is $15k - you pay $1,500 tax
Dealership resells car for $20k, new buyer pays $1,000 tax
Car is resold for $10k, new buyer pays $500 tax
Car is at end of life, state has picked up $3,000 in sales tax alone during the life of the car, an effective tax rate of 10%... I'm no economist and all the numbers are made up, but used cars are definitely good for the state.
You're right.
In 2006, Maryland took in $360.3 million in motor vehicle licenses, while Virginia took in $257.8 million to the state and $79.4 million locally for motor vehicles.
So even though MD has a lower population, we still pay more in taxes to initially purchase a car!
But VA really does get you. MD has $0 in Personal Property tax, while VA took in in 2006 $377.8 million in PP tax.
Using 2000 numbers (most recent available from census), that works out to only $45.63 in PP tax per person in VA. So apparently owning an S2K really screws you over!
Data from BEA and Census Bureau
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From: Ashburn, VA
Originally Posted by LiQUiD iCE,Oct 19 2007, 01:59 PM
Yeah but not everyone can find a good paying job easily in Louisiana.
Not to mention some places are boring as hell to live in. New Orleans, ok. But I'll bet there's probably a lot of farms, and nothing when you get away from the city.
There's a reason home prices are higher here. More people want to live here. Lots of different reasons, because of better paying jobs, better schools, more diverse, more things to do, etc...
You could live in New York City or LA and the home prices would seem relatively cheap here.
Was down in Knoxville, TN last weekend and the home prices are pretty cheap down there too. But there's a heck of a lot of nothing to do down there, and I was the only Asian person in a 50 mile radius!
Was nice to visit, but for me, I'd rather pay $500 a year extra and live here.
I could say that NJ has some of the cheapest gas prices, cheapest property tax, no personal property tax, and you're close to Philly and NYC, but I know most of you guys think Jersey is just the one big swamp that you see when you drive up the Turnpike
BTW- I was looking at townhouse prices, and you can find townhomes in Loudoun county (Sterling, Ashburn etc) for around $300k now. Thats at least afforadable, maybe not cheap.
Not to mention some places are boring as hell to live in. New Orleans, ok. But I'll bet there's probably a lot of farms, and nothing when you get away from the city.
There's a reason home prices are higher here. More people want to live here. Lots of different reasons, because of better paying jobs, better schools, more diverse, more things to do, etc...
You could live in New York City or LA and the home prices would seem relatively cheap here.
Was down in Knoxville, TN last weekend and the home prices are pretty cheap down there too. But there's a heck of a lot of nothing to do down there, and I was the only Asian person in a 50 mile radius!
Was nice to visit, but for me, I'd rather pay $500 a year extra and live here.I could say that NJ has some of the cheapest gas prices, cheapest property tax, no personal property tax, and you're close to Philly and NYC, but I know most of you guys think Jersey is just the one big swamp that you see when you drive up the Turnpike
BTW- I was looking at townhouse prices, and you can find townhomes in Loudoun county (Sterling, Ashburn etc) for around $300k now. Thats at least afforadable, maybe not cheap.
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Originally Posted by animeS2K,Oct 22 2007, 11:20 AM
Does the money go into the general fund or specifically for road projects?
And VA doesn't tax you for OTHER personal property, right? Just cars and real estate?
And VA doesn't tax you for OTHER personal property, right? Just cars and real estate?
What the state does now is allocate a block of money to rebate to the locality for property tax relief on vehicles. Anything assessed under $1000 gets full relief out of that block. Anything between $1,000 and $20,000 (including the first $20,000 of vehicles assessed at a higher value) get a percentage of relief based on how much money is left out of the state block that year. This year it happened to be 48% relief.
Hence, my S2K assessed at $13,700, taxed at 3.6%, would have been $493.20 but the state paid $236.74 of it for me; while my '92 SE-R was assessed at $965 so the state paid the whole $34.74 on it.
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From: MD
MD FTW...
the MD licensing fees partially fund the 7 rescue State Police helicopters scattered throughout the state. MD is the only state where you will be rescued by helicopter for free...
WV has PPtax... but after figureing it all out- they still pay less tax then MD.
So... WV and MD FTW (no one wants to live in WV) and VA Fails.
the MD licensing fees partially fund the 7 rescue State Police helicopters scattered throughout the state. MD is the only state where you will be rescued by helicopter for free...
WV has PPtax... but after figureing it all out- they still pay less tax then MD.
So... WV and MD FTW (no one wants to live in WV) and VA Fails.
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From: Lewisville, TX
$460 for this six months. Just got it in the mail today. 
To put that in perspective, my 6mos. tax on my house is less than $700. I promise you that my cars/trucks/trailer do not even come close to the value of my home(which is assessed at about $100k less than it appraised last year- but everyone is in that boat now).
To put that in perspective, my 6mos. tax on my house is less than $700. I promise you that my cars/trucks/trailer do not even come close to the value of my home(which is assessed at about $100k less than it appraised last year- but everyone is in that boat now).
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lol, my tax bill was only from 9/1-12/31/07 (four months), and it came to $371. they "assessed" my car's value at $30,800, which is definitely high. i'm wondering if i can throw a fit and get it reduced somewhat. next year, assuming they say it's worth like $27/28k, i'm looking at a personal property tax bill of about $900? that is INSANE.
VA sucks.
VA sucks.
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