Vehicle tax value (1 Viewer)

This site may earn a commission from merchant affiliate
links, including eBay, Amazon, Skimlinks, and others.

For perspective...I renewed my ‘14 BMW R1200GSA today, 14k miles NADA pricing = $10-13.5k, NCDMV value, $4.5k

Quick search on Cycle Trader reflects NADA pricing, some suggest I should self-report the discrepancy? Right :rofl:

As suggested, someone, without experience nor real research or expertise, “corrects” values. Will NCDMV step in when an insurance carrier says that FJ55 is worth $1500 and totaled after a “fender bender”? We all know the answer to that.

Yes, more likely a nice revenue generator, knowing few will challenge, have the time, resources or understanding how to challenge and the state will gather the $$$$ with probably less than 10% of those impacted doing anything more than b!tch about it.

Having just gone thru this to insure Hilde, wanting to ensure if such a rare body were damaged, I could get her repaired. Yet, NADA ($21-90k), Hagerty valuation tool ($14-40k), Hemmings (shows prices of current listings @ $5-60k), HTF can NCDMV decide what mine might value at but what I paid for her, declining in value forward. I would suggest the DMV must provide evidence that an individual’s vehicle has been modified/restored such reflecting an INCREASE in an aging piece of personal, taxable property.

And, yes, I painfully provided the true bill of sale to NCDMV, paying my full tax value regardless of what someone decides in Raleigh HQ...
 
Yea, WTF is the DMV concerned with how much my vehicle is worth?
My 2 old crusty land cruisers don't add more wear and tear to the road than any other vehicle. They aren't even driven that much.
How does everyone just go along with all of this?
Taxes can be paid on new vehicles, then charge a flat fee to renew a license plate every year (again, bogus), and move on. Less work for them too...so maybe the DMV can cut their spending so they don't have to bring in as much.
Maybe I should report to the rant thread.
 
i just got hit for "no liability insurance" even though I had full coverage due to changing my policy to Georgia so I could register vehicles here. I pay more for insurance here and have never had a lap of insurance. So dumb. Now I have a pay a $50 fine per vehicle to North Carolina even though I had full coverage here and was within the transfer period.
 
This is all very interesting to me. Here in TN the state has a flat amount assigned for the states portion of tax and each county is allowed to add an overhead on top of that. Each vehicle is taxed the same regardless of value. My 1969 FJ55 costs the same as a brand new Bentley would.

Antique is not a good option here as they are restricted to weekends only unless you are attending an event or taking it to a shop.

Most counties dont have any emissions regs, so just pay your wheel tax and get your tags, there are 7 counties in the state that do run emissions and for those counties you must have a CAT (if equipped from the factory) and have the computer hooked up or the snooper pipe run up if you are 78 and newer. Older vehicles are exempt. Its a hard date and I think that is tied to when the US passed the legislation requiring emissions to start. We happen to live in one of the 7 so getting tags on vehicles sucks because most of my junk is old and crusty and i see the testing as unnecessary as my vehicles are in the minority regarding any emissions output, but regardless the pickup I bought from @pawwright will have to be snooper tested for us to get it tagged to drive daily. Lucky for me Toyota didn't start putting CATs on until '79 so both our 40 and 55 are a fastpass.

Our tags cost roughly $100/year/vehicle

Pretty sure that doesn't add anything to this conversation, but figured I'd share.
 
Last edited:
I just got the 2020 tax bill for the Turdle ('84 FJ60). It tripled from last year. Appraised value skyrocketed from $1,000 (last year) to $16, 700 (this year). Sigh..... I guess I will have to go get another antique plate.
 
Last edited:
Another data point, my dad just asked me about this the other day as his '73 Plymouth Duster tax bill just showed up. It has gone from $3200 to $20000.

Guess it'll be getting antique plates.
 
I think the tax on moonshine is $15 a year. How much per year was it before/after the increase for Turdle Dave?
 
I think the tax on moonshine is $15 a year. How much per year was it before/after the increase for Turdle Dave?
Actual tax last year was $7.82 compared to $95.83 this year. When you add the $36 registration fee, this year's tax bill comes to $131.83.
 
That's a big hike, nearly $90.

Sucks, but my ford's registration is nearly $500 annually. Could be much worse.
 
I'm not here to answer that question. My ferd is high because of the road use tax associated with weighted tags in NC. I'll gladly pay it to avoid the much higher fines should I be caught and weighed above my tag.

$135 for a 60 registration doesn't bother me very much (not that mine is that high yet), but I don't have 4 or 5 classic vehicles to pay for, all with appreciating valuations. I've only got one. If each one of my 4 or 5 classics tax cost increased by nearly 10x, I'd be complaining about that too!

My point is to say that the complaint is justified, and so is the tax increase.
 
Just so everyone is aware, on October of 2019, Gov. Cooper signed HB 100 into law. Among many other line items on this bill was an amendment to GS 20-79.4 which effectively lowers the eligibility age for antique auto plates from 35 years old to 30 years old. All 1990 and older vehicles should now be eligible.

Bypass the high tax rates on your 30+ year-old Cruiser and get antique plates. Tax value on an antique plated vehicle can be no more than $500.


 
As I still have nothing of value to add because I'm not in NC, I must say that to me it appears that the state clearly has someone checking BaT regularly to augment their appraisal portfolio. To me the worst part would be not knowing from year to year what my tags would cost.
 
As I still have nothing of value to add because I'm not in NC, I must say that to me it appears that the state clearly has someone checking BaT regularly to augment their appraisal portfolio. To me the worst part would be not knowing from year to year what my tags would cost.
Jynx, It's not so much the State as the counties. The county taxes are all over the place, and there seems to be no rhyme or reason to explain why. One thing's for sure though...if you drive an old vehicle...and if it's considered collectible...get ready. They'll come for your money sooner or later.
 
Yea, WTF is the DMV concerned with how much my vehicle is worth?

Because they need tax revenue to pay for stupid bull****:meh:

Here's a good question for assessing value, what does your insurance company place the value of your vehicle at if it were to be totaled?

Granted antique and stated value policies aside, but what value would the insurance industry put your vehicle at, and if low enough, would your agent supply paperwork supporting that to give to the city/state tax folks?:hmm:
 
I'm assuming the insurance company would use NADA, which is what the county says that they are basing the new tax value on. They told me that my 60's NADA retail value was $16,700 in average condition. I have not looked it up. That is definitely more than I have it insured for.
 
Just got my registration renewal from the DMV. They value my '77 FJ40 at $21,200. Property taxes = $278.70.

How much are those antique plates per year again? Can't seem to find a price on the DMV website. I assume I can still run my "1977 plates" as long as I keep the antique plate in the truck, like with regular plates.
 

Users who are viewing this thread

Back
Top Bottom