Assessed Value Question
Le Mans Master
Joined: Apr 2006
Posts: 5,421
Likes: 1,128
From: Goodyear Arizona
I wouldn't sue or anything like that, I was just curious if a statute existed requiring dealerships to disclose markups as separate line items, etc. The tax difference if they were to remove their markup would be $150 max, so it's a trivial amount, but it's the principle behind it, as I don't think it's fair or accurate.
I'll bite the bullet on this I'm sure, and I love the car, but I despise taxes, as we all probably do.
I'll bite the bullet on this I'm sure, and I love the car, but I despise taxes, as we all probably do.
Last edited by blackvetterzo6; Oct 11, 2021 at 04:08 PM.
Team Owner
Joined: Oct 2004
Posts: 25,583
Likes: 16,942
Melting Slicks
Joined: Oct 2016
Posts: 2,873
Likes: 2,505
Thank you, I agree. That was my whole point is posing the question since many of us add a lot to our cars after purchase. I'm guessing no one here contacts the DMV after adding PPF, ceramic, etc. to tell them that their car is now more valuable, therefore they should be taxed on its new value. Though based upon some of the feedback my question has received, I must assume that they do.
Thread Starter
Instructor
Joined: Sep 2021
Posts: 177
Likes: 180
From: Charlotte, NC
As I understand it, the current tax rate on a new car in N.C. is 3%. The sales tax rate on goods and services is 4.75%-7.5% depending on the County and municipality you live in. You would have paid the higher rate on the add-ons had the dealer given you two bills and paid more in tax...not less. What am I missing? The dealer can't legally charge you tax on his "cost" of the add-ons ignoring his actual price collected.
Last edited by DevilDog82; Oct 11, 2021 at 07:53 PM.
Melting Slicks
Joined: May 2003
Posts: 2,720
Likes: 1,061
I live in NC, too. Here's one for you: the assessed tax value on my 2005 C6 increased 69% from July 2020 to July 2021. That's sixty-nine percent! I'll be getting my C8 renewal card in the mail by December. Think it will be higher than the price I paid last December?
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Racer
Joined: Oct 2020
Posts: 378
Likes: 330
From: Pahrump, NV
GM Trident Wheels: $5995
WAIT? WHAT!
Seriously?
And on top of that, they had the ***** to sock you $4995 for $100 worth of ceramic coating!
Sorry, but do you have SCHMUCK tattooed on your forehead?
Team Owner
Joined: Jun 2005
Posts: 46,295
Likes: 2,596
From: Northern, VA
St. Jude Donor '15
"In honor of jpee"
Aside from the post above, to be clear, NC charges a Personal Property Tax on cars if I'm not mistaken. That means, every year or whatever the term length is, you pay tax on the assessed value and you are arguing about that amount, correct? If so, the only way to have "gotten around" this one is for the dealer to have declared, illegally, that the car did not come with various items that actually WERE on the car at the time you paid for it. The only way I can see to make that legal from the dealer's standpoint is to have put those items---all of them---on the car after you bought it. In other words, at a different date. Still, you would have at least paid sales tax on it, but I don't know if any of it would be part of an "assessed" value unless you are required to submit all options and accessories to the DMV for an increased valuation. I doubt that's required.
As stated by others, your time to dispute the charges in anticipation of what your/car's assessed value might be was at the time of purchase---actually, before you bought the car. Legally, it won't hold up after the purchase---you bought it the way it is and NC law is the way it is. You are stuck with it IMO.
As stated by others, your time to dispute the charges in anticipation of what your/car's assessed value might be was at the time of purchase---actually, before you bought the car. Legally, it won't hold up after the purchase---you bought it the way it is and NC law is the way it is. You are stuck with it IMO.
Last edited by AORoads; Oct 12, 2021 at 05:48 AM.
Le Mans Master
Joined: Sep 2017
Posts: 5,767
Likes: 2,967
From: Rural NW Georgia. GO DAWGS!
2024 C8 of the Year Finalist - Unmodified
No, I did not stretch myself too thin, nor would I consider myself to be flush with cash. I'm also not "quibbling" about tax liability. It's a small difference in tax liability, but I want to be taxed fairly and accurately. As someone who has put their life on the line to defend this country, I don't think it's too much to ask to be treated fairly by it, especially when it comes to being taxed.
I also appreciate getting taxes as low as I can in any situation. I hate paying them but it appears they already have you. Here is something that happened to me when I moved from Illinois back to Georgia to finish my last 15 months with my employer and retire. In 2013 Georgia started a TAVT tax on vehicles. It's a one-time tax that is paid at the time the vehicle is titled. It replaced sales tax and annual ad valorem tax and is paid every time vehicle ownership is transferred or a new resident registers the vehicle in Georgia for the first time.
I moved back here in August 2013 after this law hit the books. I transferred my wife's leased 2012 Lexus GX460 to our new home in Georgia. That cost me $3,000 in TAVT. I paid the Lexus off before I retired in 2014 and when I went in to transfer the registration to me from the lease company they hit me with the $3,000 tax - again. I was infuriated - more at myself for not paying attention to the law and not paying it off in 2013. I know this won't make you feel better but your situation could have been worse!
Last edited by Fast Dawg; Oct 12, 2021 at 11:56 AM.
Race Director
Joined: Aug 2019
Posts: 12,351
Likes: 14,183
From: Central Illinois
The very definition of irony, the government has racketeering laws in place and then they take all our money. They make the mafia look like somebody passing the collection plate in church. 
Drifting
Joined: Jun 2021
Posts: 1,360
Likes: 280
From: Arizona
I wouldn't sue or anything like that, I was just curious if a statute existed requiring dealerships to disclose markups as separate line items, etc. The tax difference if they were to remove their markup would be $150 max, so it's a trivial amount, but it's the principle behind it, as I don't think it's fair or accurate.
I'll bite the bullet on this I'm sure, and I love the car, but I despise taxes, as we all probably do.
I'll bite the bullet on this I'm sure, and I love the car, but I despise taxes, as we all probably do.