Vehicle tax

[asm0deus]

Yeah so I got my vehicle tax notice, and it says my car's value is: ~11,500 and I check KBB for private party ($5700) and suggested retail ($8700). This is for state of NC, on a 2001 Camry CE 5spd 92k. I'm going to call them and ask to do a reality check. Anyone else seen/heard of this? Do you know which KBB value they use for their numbers?

 

[dabuddha]

Maybe they don't use KBB.

 

[MixMasterTang]

Originally posted by: asm0deus
Yeah so I got my vehicle tax notice, and it says my car's value is: ~11,500 and I check KBB for private party ($5700) and suggested retail ($8700). This is for state of NC, on a 2001 Camry CE 5spd 92k. I'm going to call them and ask to do a reality check. Anyone else seen/heard of this? Do you know which KBB value they use for their numbers?

In Kansas you pay the lesser value of their default sales taxed based on their estimated value of your car or sales tax based on what you actually paid for the car.

Edit: Now that I see you are referring to personal property tax my above statement doesn't apply, but the states usually base it on a fairly generic value and don't go off of KBB values. For example if you have a 92 Camry with 100 actual miles in pristine condition with all possible options as opposed to one with 150,000 miles in bad condition with no options the KBB value is going to be quite a bit different between them, but in the states mind they are going to tax you the same on both cars.

 

[FoBoT]

it is probably like real estate valuations, instead of "raising taxes" , the state just adjusts the valuations to bring in more revenue

you can call them all you want, you'll talk to a govt. employee that won't care and can't tell you anything anyways

 

[Dunbar]

Probably like California where they depreciate the value of the car a certain percentage each year based on purchase price. The KBB method would not be very efficient.

 

[xrax]

probably based on the MSRP rather than the selling price.