NADA Guide pricing

[NCDave51]

Just got my property tax bill in the mail from my county here in NC and was shocked to see the appraised value. My 1962 Champ 1/2 ton to them is $24,500.00

When I asked how they appraised vehicles like mine, they said the State allows them to use the NADA guides for classics. Attached is a pic of the nonsense NADA is spewing: average retail $28,800, high retail $52,000.

I'm not a skeptic but I wonder if NADA gets some support from local governments in these insane appraisals....

Hagerty at least sees average at $13,300 and #1 Concours at $30,400.

Anybody else had inaccurate appraisals from their property taxes?

[Corbinstein0]

5 minutes after they start charging me property taxes on my Stude, it'll be for sale.

[rbisacca]

5 minutes after they start charging me property taxes on my Stude, it'll be for sale.

5 minutes after they start charging me property taxes on my Stude I'll move to another state!

[dpson]

The DMV here also uses NADA for the value determination for the VT 6% purchase and use tax, if greater than the actual purchase price. The values are typically way high, however you have the option of getting an appraisal or valuation from a registered car dealer, which they will also accept. We don't pay a yearly tax just the one time tax when you buy.

[studegary]

Just got my property tax bill in the mail from my county here in NC and was shocked to see the appraised value. My 1962 Champ 1/2 ton to them is $24,500.00

When I asked how they appraised vehicles like mine, they said the State allows them to use the NADA guides for classics. Attached is a pic of the nonsense NADA is spewing: average retail $28,800, high retail $52,000.

I'm not a skeptic but I wonder if NADA gets some support from local governments in these insane appraisals....

Hagerty at least sees average at $13,300 and #1 Concours at $30,400.

Anybody else had inaccurate appraisals from their property taxes?

John P. used to be the NADA rep. for Studebakers. I wonder if he still is?
The valuation appears to be way off to me.
How much does this inflated valuation affect your property tax? Is it enough to be concerned with? My property tax is over $6K, but none of it is related to vehicles (DMV gets us there).

[candbstudebakers]

Tax on your car or truck? sounds like a state not to move to, here in California you pay one time tax when you register it and on old cars they only tax on the price you say you paid for it and no problem, so you just play their game like less than 10% so $500.00 pays $50.00 I have never paid more than $50..00 on any old car no mater what I paid for the car.

[blackhawk61]

Take title to tax office and register it as an antique.

[NCDave51]

John P. used to be the NADA rep. for Studebakers. I wonder if he still is?
The valuation appears to be way off to me.
How much does this inflated valuation affect your property tax? Is it enough to be concerned with? My property tax is over $6K, but none of it is related to vehicles (DMV gets us there).

In NC and I’m sure other states, they assess real estate property and vehicle property separately. It’s done together now as “tag & tax” every year when you reregister your vehicle (decal for your plate, etc).

County is 73 cents per $100 of value, city is 66 cents per $100 = $371.28.

Drive it too often to honestly register it as an antique.

Thanks for the quick feedback.

[Commander Eddie]

I thought NADA also used examples of actual auction prices to determine value. What auctions are they looking at??

[6hk71400]

State of Arizona does not use property taxes on value of vehicles. The use a lieu tax that progressively goes down as a vehicle gets older every year. If you apply for a bonded title, they will access any old vehicle a "bond value" of $10,000. The bond on that amount is a one time fee for the title. Now to generate more revenue, the state has placed an environmental tax on an old vehicle of $35.00. So my 97 Olds 88 was down to 25.00 but now is 60.00 plus the emission fee for Pima County. All other counties other than Maricopa do not have emissions.

Bob Miles

[t walgamuth]

We pay 7% on the purchase of a car in Indiana. I once bought a 51 Caddy convertible for about 1,500. Without asking me the seller put on the bill of sale $1. When I took it to the license branch I handed the girl the bill of sale and told her I paid more than that for the car. She looked the title over and shrugged and charged me for a $1 purchase price.

That was at the branch in Logansport where I had traveled because the local branch in Lafayette could be stinkers.

[Skip Lackie]

Every state is different when it comes to vehicle taxes and licensing fees.

[bensherb]

Tax on your car or truck? sounds like a state not to move to, here in California you pay one time tax when you register it and on old cars they only tax on the price you say you paid for it and no problem, so you just play their game like less than 10% so $500.00 pays $50.00 I have never paid more than $50..00 on any old car no mater what I paid for the car.

When I titled an old car I actually bought for $300 (1954 Chevy 4 door sedan), the California DMV told me, without seeing the car, that their info tells them the car is worth $3300 (over twice what a decent driveable one would cost at the time) and they would tax me on that. Their tax was more than I payed for the car. That was 28 years ago. I told them to forget registering it and just give me a title, for that they didn't charge the tax. I took what I wanted from the car, and sold the rest to a scrapper 19 years later for twice what a bought it for, given inflation over that time I figure I broke even.

[Dwight FitzSimons]

I have had experiences similar to yours. The DMV in Virginia is similarly intransigent (sp?, or stubborn, fixed minded). The same is true of our county finance office with my personal property taxes. Bills of sale or other documentation seem to mean nothing to them.
--Dwight

[Hallabutt]

We in the most populous part of Washington state have needed rapid transit infrastructure advancement forever. To make it clear the voters, voted in the car-tab fee to move forward and to mitigate the cost. An excise licencing tax based on car values, had support of the electorate. When people began to get their yearly license tabs it became clear that something was not right. Older cars especially, were being assessed at far more then their value. Law suits failed to change the equation. The change has been an unfair shift of the burden to those least able to afford it.

https://www.king5.com/article/news/local/dol-admits-some-inaccurate-msrp-figures-used-for-car-tab-taxes/281-420999759