Der Tgr

First, let me say that I'm not looking for a debate on personal property tax, or the fairness of it, etc. IMHO, States, or in this case a Commonwealth, will get their cut or our pie one way or another. But, as a relatively new Virginian who has never titled a top end car model in VA, I have a question about how localities classify our cars. Do they assess as a "GT4" or a "718 Spyder", or as a "Cayman"/"Boxster"? Obviously, this will affect the bottom line NADA value, and the amount of tax assessed.

QWKFLAT6

I live in Louisiana and they registered the Spyder as a Boxster.

Dan Nagy

It’s by assessed value. On a new car, it’s the sale price. It’s depends if your in Fairfax or Loudon and ranges from $4.20 to $4.80 per $100. If you are buying used, it’s based on the model. Don’t worry, they are not slackers in computing taxes.

Der Tgr

thanks - hopefully, Virginia is the same....

Der Tgr

On a new car in VA, there is a 4.15% Sales and Use Tax that you pay to the dealer. Then, you get hit with a Personal Property Tax from the locality, and that ranges from 4%-5% of the assessed value. These are different taxes.... I am asking about the latter. 4-5% of the assessed value of a Boxster < 4-5% of value of added as a GT4/Spyder. Just wondering how people with these cars have seen them on their personal property tax bills.....

TXshaggy

They’ll have the VIN, so you’ll pay full boat.

QWKFLAT6

We pay a State sales tax, but then the local thieves tack on a P/M tax that is greater than the State tax.
I paid $4,946 in State taxes, plus $5,316 in Local P/M taxes.

The P/M tax goes directly to the local town government where you reside. It’s a straight money grab.

JCZ5

Wow, seems to be a pain to pay personal property taxes for cars in VA. Just so I’m clear, you pay 4% tax for the car and every year you get hit 4-5% of the value of your car, year after year? Sheeesh…

Dan Nagy

That’s right, but the 4-5% decreases as the value of your car decreases.

Taxes in NVA helped motivate my move to the Delaware beach. Judging from the new builds going up here, I am not the only one.

Pattymac

Wow - I thought we had it bad in Georgia. We pay about 6.7% tax on the purchase price when the car is purchased but that's it. If you buy used you pay the same tax on the assessed value.

Last_935

I just paid the VA PPT on my '16 GT4. The assessed value was $61,900 and the tax bill was $1,947.20. The calculated rate in my county is $3.60/100 ($2,228.40) - the "Car Tax Relief" (maxed at $331.20) + the Registration Fee ($40.00). That is compared to the VA PPT on my wife's '15 Z51 C7 Corvette at $686.20. Unfortunately, this is the cost of living, and having nice things, in VA.

Bxstr

Agreed - county in Ohio I live in is 8%. Which I thought was terrible, but I would not want to have to pay 4% yearly, even on a depreciated amount.

Der Tgr

Thanks - definitely looks like they differentiate between the Cayman and the GT4. I know they do not differentiate various trim levels - for example my Carrera S is assessed at the same rate as a Carrera or GTS. Didn't know how they'd handle a GT car. Thanks for providing this info.

2PUTT

VA property tax varies per county. It is normally based on the value of your vehicle as of Jan 1st. I sent you PM with more details...

blackland

Whenever I was stationed in Virginia I was always a resident of another state so I never had to pay this tax.

Whenever I see a GT4 for sale it is always above MSRP for the slightly used and in the $90k range for the older cars. I hope for your sake they use a standard depreciation and not actual values.