Older vehicle tax value
Just curious as to how other areas place property tax values on vehicles. Specifically old cars and trucks. Not gripes about your house valuation, or on your boat and RV---just older cars.
In a nutshell, the issue I am running into at the moment is the tax value on a 38 year old 1 ton farm truck. It has a wood stake body--and I mean wood as in wood floor, runners, sides, you get the idea. It has an automatic trans, broken AC, no dents, some rust. The county thinks its worth over $13,000. The county thinks ANY old vehicle is a collectors item. Around here, that truck would sell for $1,500-3,000. Where they get the crazy values I don't know. A few years back the tax value on my 66 Mustang shot up to $16,000. I raised heck with the tax office to the point they realized I wasn't just going to "go away". Since the car was not a daily driver, they finally told me that if I paid an extra $10 a year to get antique auto tags, the most they could tax the car at would be $500. So I did and now the county gets WAY less in tax revenue for the car than they did before--the savings even offset the extra cost of the antique auto tags. I'm going to check, but I don't think I can get a "weighted" antique auto tag. So looks like I'll probably be arguing with the tax office. Anyone else live in a county that just assumes because a vehicle is old that it is restored and worth a small fortune? |
So is this vehicle only used on the farm, not sure how they know you have the truck.
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I ran into this when I bought an old IH Scout from TX and brought it to LA.
LA thought it was worth 2-3K and wanted taxes on that amount. I laughed at them and asked what I could do. They said to have the Scout appraised and they would accept that value. I emailed Super Scout Specialists in Ohio with a picture of it, sent them their small fee, and I was emailed and mailed an appraisal that put the Scout right around $400. I paid taxes on the $400 and all was right. |
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They should know it is a farm vehicle be cause our property taxes and tags all come in the same bill. And if you haven't gotten it inspected, they hold the tags--even if you already paid for them. I may call the county to the north of me and get a tax value for it there--that county has about 1/10th the population we do. |
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Wow!
What a pain in the ...... |
So is this a tax you have to pay each year?
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In Illinois, the only time we pay tax on a vehicle is when it's purchased. You pay it one time. Anything over 10 years old (IIRC) it's a flat tax and it's like $25 (or so). We only pay registration once a year. Value of the registration depends on the type. Car plates are one price, "specialty" plates are higher. Truck plates go up in GVWR and the rate follows. We only pay property tax on property.
(land/houses/buildings). |
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Yes, truck plates cost more as the weight goes up, that's fair I suppose. But this is property tax, it was once a "use" value. Now its whatever they think it will sell for.:bash2: |
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