C2 Turbo

Just went in today to get the car re registered and was told the value on the car is $150,000 so it would be taxed on that price, is that how these aircooled cars be taxed? KBB doesn't even have the information any more, wonder why? Could historic plate work in this situation especially when the car is not even driven much?

Thanks

996AE

what state?

C2 Turbo

Kentucky

996AE

Wow

I thought forsure CA

i would get it appraised and fight it

How the dvm can become experts on aircooled Porsche values is beyond logical

Black_Hat

USAA uses NADA

https://www.nadaguides.com/Cars/1991...r-Coupe/Values

a good and a bad thing ......

ralt

you need to move or use my home address

Spyerx

what % !?! You need to find what the state uses for their assessment. I'm sure there is an approach to contest it.
CA is actually not THAT bad on vehicle tax/fees all things considered, it's like 50% of what NV charges.
At registration it about 1% but it goes down fast annually. I think my cayenne 2013 was like $200?
I know, not as cheap at FL...

Metal Guru

According to the Kentucky DMV, your road tax (they are calling it usage tax) is 6% of retail vehicle cost. This value is determined by current average cost listed in the NADA guidelines or 90% of the MSRP.

In Michigan, road tax is determined by the MSRP when the car was new. This looks similar to what Kentucky is doing except the fee won't follow the value of the car into the stratosphere.

So my road tax here is the cost of the plate ($380 on a 965 based on an MSRP of $105,000). By switching to a historic plate, the usage tax went to $35 for 10 years. There are limits on how you use the car. Travel only to car shows or club events with unlimited usage in the month of August for the Dream Cruise. Most jurisdictions don't enforce this rigorously, though.

You might want to get a historic plate.

lee88

Each state varies, as others have noted.

In Rhode Island there's actually two types of tax one pays on cars. At the time of purchase you pay sales tax of 7%, typically of the actual purchase price. But there's a list of "special interest" cars that are higher end sports cars, vintage, etc. In those cases regardless of what the purchase price is, the sales tax is assessed at NADA book value. In addition to sales tax at the time of purchase, there is an annual "car" tax which is essentially a property tax assessed on real property (separate from real estate tax). This value is at a lower % rate but again is based on NADA book value.

Not sure about Kentucky, but in RI getting an antique plate (any car 25+ yrs old) reduces your annual DMV registration fee but doesn't impact the sales or car property tax assessment.

bweSteve

Question: Does Rhode Island consider that 2nd annual "car tax" to be a registration fee? .. In other words do you get a paper registration you use if pulled over by police &/or a annual sticker to place on your license plate?

I ask because that is how Maryland does it. We pay 6% at time of purchase. And then every 2 years we pay a registration fee that is essentially our road tax (we get the little paper to hand to the nice po-po, & a sticker for the rear plate only).
so for 2 years Regi I pay $150. But for my 2012 Cayenne Turbo I pay $187 for 2 years. So Maryland must be doing some form of valuation on the '91 964 Turbo (it's just not that high).

.... Re: Kentucky - I would find it ridiculous if MD decided to perform valuations on 25+ year old cars (collectible or not) and assess a ANNUAL property tax!!! 6% of $150k would be $9K a YEAR!!! unacceptable. I don't even pay that on my house!

Oh & yes we have Antique plates and they do indeed reduce our bi-annual registration fees.

ralt

curious....what does insurance company say car is worth??

C2 Turbo

Just ended up paying $1400+ for a reduced value at $120,000. A local friend also mentioned about the historic plate which would bring it down to may be under $100 but then of course, it would have certain limitations as well. Since I don't drive it much now-a-days, I think I am going to go that route at least for next couple of years. I am however paid up until Sept so that's good.

I have Porsche moved out to a specialty/classic car insurance and have it insured at $150,000 but up until last year, my regular car insurance (KY farm bureau) had it insured at $53,000

wicks

Driving old cars should earn people a tax deduction, not an extra tax bill! Preserving resources from all over the planet by spending tons of money (back into the economy of course, earning states even more tax revenue) keeping these old beasts on the road.

Nuts!

heliolps2

Hello ...I'll chime in

Here in the Fairfax Virginia they go by the NADA as well. Values start at $136k fair $229k Good and $289 Excell con at 4.67% tax rate... They go with the middle price here in Fairfax.... Yikes ask me how I know. But they are kind enough to give you a 50% discount if your car value is over $20K....lol

cobalt

This is the first time I can say happy to live in NJ registration fee is $45 a year no road tax.