12-07-2015, 07:35 PM | #1 |
Drives: '19 ZL1 1LE Join Date: Dec 2012
Location: O'Fallon, MO
Posts: 836
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The downside of the ZL1
Just got my personal property tax bill. I've been dreading this day. Lol....
I imagine this is when all the people who live in states that don't have PP tax chime in, right?!? |
12-07-2015, 07:49 PM | #2 |
Sarcasm loading --------
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HaHa-
Did you purchase it as a company vehicle? - Then you have to pay PPT. I bet those deliveries are always on time.
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12-07-2015, 08:02 PM | #3 |
Drives: 2014 Red Hot 2SS Join Date: Sep 2015
Location: New Mexico
Posts: 74
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PPT on a car??? Never heard of it.
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12-07-2015, 09:12 PM | #4 |
Drives: '19 ZL1 1LE Join Date: Dec 2012
Location: O'Fallon, MO
Posts: 836
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12-07-2015, 09:25 PM | #5 |
Drives: 14 SS/ 1LE Join Date: Jun 2013
Location: parts unknown
Posts: 922
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You have to pay a fee when you buy it, then again every year. Sounds like a scam to me
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12-07-2015, 09:26 PM | #6 |
Homeless Life Chose Me
Drives: LS3 (sold 4/21) Join Date: Nov 2014
Location: Streets of Philly
Posts: 3,650
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It does sound like a scam lol. How much is it for the ZL1?
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12-07-2015, 10:03 PM | #7 |
Drives: '19 ZL1 1LE Join Date: Dec 2012
Location: O'Fallon, MO
Posts: 836
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Agree, it's as much a scam as any tax; real estate, income or death tax. Hell, there are even sales taxes on things you buy with income you've already been taxed on! Lol... It's the oldest complaint in the world and I agree that they all suck.
For my car, it's approximately $1,000 & that's pretty high amongst the states. But my state is pretty "average" with overall tax burden. For example, my local real estate, fuel & state income taxes are all pretty low, so I guess it evens out. Despite what people might tell you, there's no tax haven in the U.S., but some states are better than others. In the end, good old Uncle Sam always gets his share. I'm just venting a bit. I went in eyes wide open and knew all about the tax when I bought it. Interesting note: Missouri has an odd twist to their law. You are taxed an whatever vehicle you own on January 1st. So if you sell your car on December 31st and buy another one two days later on January 2nd, you can avoid the tax for at least a year. Weird, but true! |
12-08-2015, 07:58 AM | #8 |
Drives: 2015commemorative vert 2SS Join Date: Oct 2013
Location: northern Indiana
Posts: 948
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They stick it to us in license plate fees and taxes. Mine are going to be about $500 for my plates this year, slightly less next year. The fees are based on the cars age. We used to have PPT, but alot of people were plating their vehicles in ohio or michigan to get out of paying the fees.
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12-08-2015, 08:46 AM | #9 |
Drives: 2002 Camaro SS SOM; 2015 Malibu LTZ Join Date: Dec 2010
Location: Queens, NY
Posts: 4,022
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I have heard of this tax in some states, like the Carolinas. Remind me not to move to PP Tax states.
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12-08-2015, 09:05 AM | #10 |
Drives: '19 ZL1 1LE Join Date: Dec 2012
Location: O'Fallon, MO
Posts: 836
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This link is a decent guide to seeing how your state ranks. According to this guide, my state is one of the worst for PP taxes, but is "middle of the pack" for overall tax burdens. New York & Cali are listed as having the overall highest tax burdens and Wyoming & Alaska as having the overall lowest.
https://wallethub.com/edu/best-worst...plete-rankings |
12-08-2015, 09:19 AM | #11 |
Drives: 2012 1LT SIM Camaro Join Date: Sep 2012
Location: Louisiana
Posts: 375
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You know what I find rather amusing? The states with the highest individual tax burdens, PP, real estate, income, are in the notheast and are the original 13 states, or very close by.
Some of their real estate property taxes are ridiculous compared to down south. NJ and NY are big offenders. TX, WY, AK, FL, and NV are some of the more tax favorable. http://www.bankrate.com/taxes.aspx http://www.kiplinger.com/tool/retire...s-on-retirees/ |
12-08-2015, 11:15 AM | #12 |
Drives: '12 ZL1 #1609 Join Date: Feb 2010
Location: Georgia
Posts: 1,762
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My plates are $55 year with specialty plate in GA. But if you move here from out of state you have to pay a one time tax on it. A guy I know who moved here from TX had to pay over $1,200 his first year on a Toyota Corolla. After that it is normally $25.
Best thing about where I'm at though is no emissions.
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12-08-2015, 11:49 AM | #13 | |
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12-08-2015, 12:07 PM | #14 |
Drives: 2012 1LT SIM Camaro Join Date: Sep 2012
Location: Louisiana
Posts: 375
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