10-06-2014, 09:55 PM | #1 |
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So I just moved back to Atlanta from SC (charleston) and apparently with the new non ad velorum (birthday tax) setup they want me to pay 6k +\- sales tax to get a plate even though I paid sc sales tax when I bought the car. The tax rate is on the full assessed value even on a lease (not the leased amount). Will probably only keep it another year max and my lease is up in 2. Under the old system I would have paid about 1k a year.
Just fair warning for anyone moving to Ga apparently they are working on a fix but who knows when that will happen if ever. |
10-06-2014, 11:13 PM | #3 | |
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I register my car in Montana. If Georgia wants to be greedy then they get nothing!
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10-07-2014, 10:32 AM | #5 |
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7% is a ridiculous tax rate on a car. The dealer puts capital at risk, manages the job and still they do not make 7%. Govt wants 7% for nothing. I hate the state government - they are the most useless human trash I know.
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10-07-2014, 10:50 AM | #6 |
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I'm glad they got rid of the birthday tax. I had just paid it on my wife's old car before the lease ended, then we turned the car in maybe a month later. I called the county and they basically said too bad. So I paid the yearly tax for just one month.
However, the new tax is also a problem. I traded in my M3 when I pruchased the M5 and just paid tax on the difference. But if you like to lease cars and get a new one overy couple of years then GA is not the state for you. You will pay the full tax every time.
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10-07-2014, 06:42 PM | #7 |
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Also, if you lease the car then you pay this tax and if you want to buy at the end of the lease you pay the tax again. Though on the second time it is for the residual value of the car at that time.
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10-07-2014, 08:48 PM | #8 |
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Wow. This is ridiculous. I suspect it's just another way for state governments to try and recoup shortfalls that have resulted from lower federal government subsidies. This, of course, in addition to writing more speeding tickets! Hopefully, someday politicians will wake up and realize the successful, working and/or financially secure cannot continue to carry the every increasing majority who are not.
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10-08-2014, 09:00 AM | #9 | |
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But here is what is most egregious: If I buy a car for $100k and register it in GA, I pay $7000 sales tax. Then I sell it a year later for $85k privately. So the cost of that car for the year is $15k, however I have paid $7000k tax for the privilege of owning it for a year. So the 7% tax rate is an effective tax rate of 45% in my case. That is insane! And if I do a trade to limit my tax exposure, it doesn't help because the money goes to the dealer. This is why I created an LLC to buy and sell cars via the state of Montana. It literally halfs the TCO of the car and I am happy to pay the annual tag fee of ~$300 to Montana.
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10-08-2014, 09:03 AM | #10 | |
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I find this sort of thing so annoying, if I could get away with it, I would round up every state legislator and burn them alive (hope my significant other doesn't read this - she's a humanitarian)
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10-08-2014, 09:50 AM | #11 | |
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10-08-2014, 11:09 AM | #12 | |
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If I am not mistaken, you can still opt for the ad valorem tax to be done on a yearly basis instead of all at once depending on your specific situation, purchase date, etc. I would do a little research on it, many times the morons at the DMV are wrong. http://onlinemvd.dor.ga.gov/Tap/faqs.aspx
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10-08-2014, 12:37 PM | #13 | ||
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10-08-2014, 12:39 PM | #14 | ||
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