NADA Guide pricing

[NCDave51]

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/l.../281-420999759

I was hoping someone from King or Snohomish or Pierce county would chime in. I moved from Woodinville, WA in mid 2017 back here to NC and remember the “ST3” initiative. They used NADA and Edmunds values then too for my Hillman Minx. Insane, I said.

The good news is that I politely stated my case to the County tax office with facts (NADA vs Hagerty, Hemmings and eBay) and was able to get the Champ to a more reasonable $10k. See pic.

[Avantidon]

All of my antique Studebakers in my garage here in Virginia are not taxed at all as they are over 25 years old and registered as antiques. Two of my personal vehicles with daily use tags on them are 22 and 20 years old. On these the tax is on a sliding NADA scale for average value meaning it is minimal in nature. There is a set fee of $35.00 for each vehicle and minimal property tax on their value. In my mind that's a pretty decent deal.

[JRoberts]

In North Carolina if you register an older car your the value is listed as a max of $500! Those plates cost a bit more but the savings are well worth it. See quote below:
Antique automobiles are designated a special class of property under Article V, Sec. 2(2) of the North Carolina Constitution and must be assessed for taxation in accordance with this section. An antique automobile must be assessed at the lower of its true value or five hundred dollars ($500.00).Feb 4, 2020

[64V19816]

What would North Carolina value a 1962 champ cab withhomemade manure carting flat plank bed, fully rusted out body, old milk crate for a seat, no windshield, a trans stuck in reverse, a motor that doubles as a mosquito fogger. What’s NADA on That? (btw I Seen that vehicle a few years back)

[candbstudebakers]

[QUOTE=bensherb;n1865751]

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 for

Rick sounds like it was 28 years ago long before they built the new office, I have often driven out to Tracy rather than use the office here in Hayward because the people there were better people to deal with, and learned long time ago how to use their system the way it is in their own book. I even carry the pages from their book to show them that on cars and trucks older than 25 years they can not charge back fees on old out dated registrations and titles, I have never been challenged on the bill of sale. The workers are either told not to provide the info in their book or they just don't read it that's why I carry the pages with me.

[JRoberts]

What would North Carolina value a 1962 champ cab withhomemade manure carting flat plank bed, fully rusted out body, old milk crate for a seat, no windshield, a trans stuck in reverse, a motor that doubles as a mosquito fogger. What’s NADA on That? (btw I Seen that vehicle a few years back)

As long as you purchase an antique tag the value is a maximum of $500. I imagine they would cringe at the sight of such vehicle as it probably is not worth $500 but much lower. How that would work I cannot say. I would love to be hiding somewhere to watch what the folks in the tax office would say.

[64V19816]

I get the “minimum” , but how do they know the condition of a vehicle? Do they send out teams of inspectors? I heard NC made up for low real estate taxes by taxing the hell out of everything else.

[JRoberts]

I get the “minimum” , but how do they know the condition of a vehicle? Do they send out teams of inspectors? I heard NC made up for low real estate taxes by taxing the hell out of everything else.

I have never had a Studebaker "inspected" since this provision was adopted. I imagine inspections are needed for out of state vehicles. As far as the using taxes else where to over come the "low" real estate taxes, I don't know.

[Ron Dame]

Oh crap, my registration on my 63 Vhamp comes up in March. ( I'm gonna let the mistype stay... maybe that's its new name)

[NCDave51]

Yes, unfortunately for me all my classics in the last 12 years have come from out of state and all automatically get inspected when you first register here in NC. No title will be issued without it, and if you let it elapse for 12 months, you start all over again.

It's done by License and Theft (State Police). They're principally interested in VIN-tampering. With all due respect to my neighbors to the south in SC (no inspection for classics VIN) and GA (no title over "x" years old), there was a lot of bad metal for sale rolling into NC that needed to get shut down by the police. Actually helps us all out as a hobby. Only on a rolling chassis project (the Willys Jeepster) would they issue an "Non-Op" title because it clearly couldn't run without a drivetrain! They're not inspecting for value at all.

Many of the above responses suggest listing a low purchase price at time of first registration. This is how we get states like mine doing more research into values - the market value and the transaction value are completely separate, otherwise we'd see $1 classics on Hemmings. Same thing with insurance companies - replacement value on a classic is a brutal exercise to negotiate (see a current post on this elsewhere) unless you claim a higher market value to begin with.

[Hallabutt]

Just want to make it clear that all is not gloom and doom in Washington state. We have a one time licensing provision for collector cars, that allows a one time licensing fee, which is transferable when you sell the car and that's it. There is also no emissions testing , of any kind, as of last year for any car.

What I was trying to get at was that as a progressive excise tax, ability to pay is implicitly implied. When an unfair valuation model is used, the whole process is turned upside down.

Bill