74 911S tax value ?

[kens_74_911s]

Hi I live in NC and just got a revised tax bill for my 74 911s. Had the car for 17 years now bought it as a rusty old ride for $4500. NC has had tax value at approx $3200 till now . Just received tax notice that since its >30 years old they are assessing the value at $11,400 so taxes went from $27 to $95 this year?
To get the rate adjusted I need to send in 5 pictures. The car does not have an interior- since I need to swap out my window seals -leaking when it rains. Interior Just has the 2 Ft stock seats no carpet or soundproofing . However I have done a wide body kit and running the cup3 twists etc. It may look better in the Pics. My main concern is that they may jack my rate higher if they see the pics, even though I need to go through the trans also to replace synchros some day. Any thoughts ? Paying more tax now on the old Porsche than our 03 Explorer LTD?

[kodioneill]

You should be happy with that tax, try New York, I had to pay $700.00 for the SC and for the Carrera $900.00, $1700.00 for the Targa.

[kens_74_911s]

Thanks for the reply . Yea I'll pay it and move on. If they see pictures they may figure its worth more than $11,400.

[mspirito]

I am registered historic and pay less than a dollar per year
Mike

[nineball]

damn, tax every year just for owning a car? do you guys have to pay annually for license plates too?

[Porsche-O-Phile]

That's crazy.

I've heard of annual excise taxes but those were always very small - like $20-$30 at most.

Tax annually? That's madness. Sales tax based on value is a one-time thing.

[kens_74_911s]

YES yearly registration is another $22 or so.

I was driving home from the Rolex Bosch 250 at VIR and stopped at a NC rest stop in the middle of Rt 220 . This is not near a state line etc. Lead 1/4 mile off the Hwy to a fully landscaped ( including pump controlled water fall ) rest area with 3 New brick air conditioned buildings (one was strictly for vending machines.) automatic doors, electronic toilet flushers,soap dispensers etc. also separate slab off to the side for another 4th building with two dumpsters- another 1/4 mile newly paved lane back to the HWY. ?? I guess that's where the tax $$ is going 1.2 mil for a road side bathrooms

[silverc4s]

You should be happy to know that you tax dollars are going to something related to driving, at least....

[nineball]

Originally Posted by kens_74_911s

YES yearly registration is another $22 or so.

well that isn't so bad then. here we pay about $75-90 per year for license plates per car no matter the age or value. if you qualify as a historical vehicle (25+ years old and on a list of specific cars the state bmv has) you can get historical plates, which are a one time charge of $60 or so.

add $50 per year to all of those prices, including $50 annually for historic plates, if you want them personalized.

[tharbert]

From what I understand, N.C. uses "broad discretion" in setting vehicle values for property tax purposes. So, you could probably challenge it with extensive photo documentation, an appraisal from a dealership and maybe an estimate from a Porsche wrench for unseen stuff like synchros. Unless, that is, the info points to a higher value.

[GothingNC]

Wake County dropped the value of my Targa from $5,050 to $4,900
Tax dropped from $85.27 to $69.47

Good thing here is that sales tax on autos is only 3% if purchased from a dealer, none for a private sale and real estate taxes are a lot lower then NY

No emissions for pre-96, just a $12 safety inspection
Registration $60 with personalized plate

[robotman]

I live in Clayton, NC interested to see what my first year taxes will be on my 75 911 this year.

[kens_74_911s]

One interesting thing since the 911 is 30 YR old I'm exempt from any safety or emissions inspections.
My 92 BMW 735Il series is a way more comfortable ride and I use that as a daily driver etc. It retailed at over 60K in 92 but NC tax rate is about 4 K It has over 300K and seems to match ebay etc . since its complex for many to maintain if they don't do the forums have the tools etc.

[porschenut]

Colorado assesses ownership tax every year, based on taxable value. I can't believe there are states that don't do this - I thought it was common everywhere! We pay license fees also, every year. The ownership tax isn't much on my '86, but on my 997 it was over $1,700 in the SECOND year of ownership. each year it goes down a bit.

[my1st911]

[QUOTE=kens_74_911s;5321549]Hi I live in NC and just got a revised tax bill for my 74 911s. Had the car for 17 years now bought it as a rusty old ride for $4500. NC has had tax value at approx $3200 till now . Just received tax notice that since its >30 years old they are assessing the value at $11,400 so taxes went from $27 to $95 this year?
To get the rate adjusted I need to send in 5 pictures. The car does not have an interior- since I need to swap out my window seals -leaking when it rains. Interior Just has the 2 Ft stock seats no carpet or soundproofing . However I have done a wide body kit and running the cup3 twists etc. It may look better in the Pics. My main concern is that they may jack my rate higher if they see the pics, even though I need to go through the trans also to replace synchros some day. Any thoughts ? Paying more tax now on the old Porsche than our 03 Explorer LTD?

Pay my 14,000 property tax, and ill pay your 100 tax assesment

[Winter]

No way to challenge the value? It seems as though they're jacking the tax to fill revenue holes. Based upon your purchase price, plus what other cars "in the same condition that your car was in when purchased" (ie. like mine), you could make a good case they're overcharging you. Learn what the fine print is in regards to the law. Knowledge is power (and more money in your wallet) in this case..

Good luck.

---

Tom '75 targa

[Winter]

Sorry!! Just noticed your tax is $95/year Yeah, maybe pay and move on. . .

Car looks good, no need to let the tax man know HOW GOOD!

---

Tom '75 targa

[G450X]

I've heard of states like that, but I guess I'm lucky to have avoided being a resident in those places. I know quite a few people who left states like that because they could not own anything without worrying about added taxes on anything from watches/jewelry, china, furniture, to their vehicles. One guy (who moved from Virginia) claimed they taxed him on broken down farm implements/tractors in a field that he owned!

I think I'm getting ready to battle the DMV over "current restored worth" versus purchase price (vehicles purchased 15-20 years ago) in Washington state when I register my vehicles (originally purchased in Tennessee). One guy told me that he purchased an old Ford for 5k, and the DMV made him pay taxes on the book value, which was something like 12k. That seems contrary to fact, and downright illegal to me.

Like George Harrison said, "Declare the pennies on your eyes...." It seems anything even remotely desirable could be the subject of taxation.

[crater64]

Originally Posted by GothingNC

Wake County dropped the value of my Targa from $5,050 to $4,900
Tax dropped from $85.27 to $69.47

Good thing here is that sales tax on autos is only 3% if purchased from a dealer, none for a private sale and real estate taxes are a lot lower then NY

No emissions for pre-96, just a $12 safety inspection
Registration $60 with personalized plate

+1 on all that. I grew up in SC and lived in VA for a while in the early '90s. Even with those auto taxes overall CoL is lower there than here...but so are wages in general. Have been trying my darnedest to find work in and move to NC for the last several years to no avail. Would love to live where I can drive my '70 year 'round.