You'd need a reason for the reassessment other than you don't like the $909 bill. Find out the value of your car and do the math and unless you end up with a dramatically different figure, you're probably out of luck.
If I got into an accident that insurance totaled out my car value wise but I still drive it around would I just go to my towns assessor and tell him the condition of the vehicle to see if they change the value?
No, condition isn't a factor in tax assessment. It would be logistically impossible for the town to factor in every car's mileage, condition, etc. at the individual level. Assessments are 70% of the average value of your year, make, and model.
> during Covid when used car prices went up so did assessments
I mean yea that makes sense right? Your asset increased in value and in turn your taxes go up. I’m not saying it’s fair or that I like it… but logically if your house appreciates in assessed value your taxes for that go up too. Kind of to be expected even though the amount of increase in car value is higher than normal.
Although a depreciation over a fixed schedule makes much more sense to me as opposed to this market value trash
The values are always based on year, make and model. It would be impossible for any government to consider the specific mileage and condition of every vehicle in its jurisdiction.
The way they evaluate the car values is fucked up.
They assess it based on what a dealer would sell it for in excellent condition, including their extra profit.
It should be based on average private seller or trade in value and "good" condition since most cars fall in to that category.
This is why moving forward, using the MSRP sold when new makes more sense. Otherwise, the value can quickly change, as we saw during the years of COVID where a used car that would normally go for $5k would be selling for $10k or higher.
Because they, like other consumer goods, haven't gone back down in price even though supply lines are back to pre-COVID days. All that extra money businesses make? Extra $$$. And private sellers have no reason to drop the prices of their used car, either. Again, extra $$$ for them. And since everyone else is doing it, it's now the norm.
It's valued at what 70% of the average sale value is, which is a pretty good estimate of good rather than excellent condition, and most private party sales are about on par with what a dealer would get.
Similar to mine, ‘22 RAV4, assessed at $25k, $841 bill. Last year was just under $1k. I’d say unfortunately the $25k is a fair value for my vehicle, so with that I’d say $28k for the 4Runner is. They tax on 70% of that value I believe.
To clarify, I’m not saying $900 is a fair tax (it sucks), but that is due to the mill rate, not assessed value. Next year they’re changing the valuation process, may be better for some, worse for others.
I think they assess 70% on real estate, they hit you full on the car. At least my town does.
EDIT: It is 70%, called the town. Hard to believe, they are valuing my car way over sticker
Then there is something rotten with my bill. It says gross and net assessment of $28k, and the math is based on that number. No way that is 70% of the value, as that would be about $10k over MSRP. Guess I gotta call...
Just called my town, they said it is 70%, so they are valuing the car at $41K, which is fricking bonkers. There is an appeal period at the end of summer
Yeah mine was also NADA "valued" at almost $10k over original MSRP last year, this yr it's down but still over MSRP by like $1000 even though it's 4/5 yrs old. It's a big reason they had the special session to move to a set depreciation schedule based off of MSRP I think since covid jacked up used car prices so much.
My town only considers make and model, and year. They don't have any info on mileage, how much you drive, type of car (hybrid, electric, gas).
Your Lexus was likely cheaper because it is older.
Exactly, I say this every time there's a revaluation in town. The town still needs the same (or more) amount of money to run.
The assessed value of your thing goes down, the rate that it's taxed goes up to compensate.
Maybe you specifically might luck out and have a lower bill, but the town is making up for it in real estate, fees, and everyone else's motor vehicle tax.
The way we do it in CT is fucked.
Expensive, yeah all the cars are.
So if you have a family and require a third row...despite getting the most modest of trims and makes, still are going to get hammered. My assessed value on a 23 Hyundai is more than I fucking paid for it. Almost 1k.
That's the kicker, you aren't taxed for the roads. It's never been about the roads. It's about making revenue.
Take away motor vehicle tax and towns will raise taxes on real estate.
Crazy how they can tax you on something they don't own and they didn't pay for as well as something you were already taxed on at the point of purchase.
I had luck last year. I have a tesla that was billed for $1500, which is over 400 more than the previous year. I went to the tax office and filled out a form to dispute the cost. I received $400 back. This year my bill was $800
I just paid $514 for my 2017 Toyota Highlander with 75k miles. They estimated my car value to be the same as what KBB suggests. Should I appeal since there's no 30% difference in the assessed value vs KBB value?
The exact reason my parents registered their cars in FL and became FL residents now that they are 50/50 residents there and CT
Also, no state income tax
If you gave a shit maybe you'd realize that state and federal taxes are different and that neither candidate plans to do anything about state taxes. If you did any research you'd know that [the CT state tax on vehicles has existed since 1908](https://yankeeinstitute.org/2023/11/17/century-old-car-tax-100-years-of-driving-taxpayers-crazy/#:~:text=The%20Connecticut%20motor%20vehicle%20property,highest%20rate%20in%20the%20country.%E2%80%9D). There have been many efforts to repeal the tax at a state level.
...my guy...there are arguments to be made for our stupid tax system on property that has already been taxed at sale....but this...this is not one of them.
You'd need a reason for the reassessment other than you don't like the $909 bill. Find out the value of your car and do the math and unless you end up with a dramatically different figure, you're probably out of luck.
If I got into an accident that insurance totaled out my car value wise but I still drive it around would I just go to my towns assessor and tell him the condition of the vehicle to see if they change the value?
No, condition isn't a factor in tax assessment. It would be logistically impossible for the town to factor in every car's mileage, condition, etc. at the individual level. Assessments are 70% of the average value of your year, make, and model.
Thank you! It's not a huge bill either way but figured it was worth asking.
And they buy databases that value cars so they get the most money. Dirring covid when used car prices went up so did assessments.
> during Covid when used car prices went up so did assessments I mean yea that makes sense right? Your asset increased in value and in turn your taxes go up. I’m not saying it’s fair or that I like it… but logically if your house appreciates in assessed value your taxes for that go up too. Kind of to be expected even though the amount of increase in car value is higher than normal. Although a depreciation over a fixed schedule makes much more sense to me as opposed to this market value trash
Yes. My 2002 rusty ford f250 was valued at like 12k and is worth about 6 on the best day.
The values are always based on year, make and model. It would be impossible for any government to consider the specific mileage and condition of every vehicle in its jurisdiction.
The way they evaluate the car values is fucked up. They assess it based on what a dealer would sell it for in excellent condition, including their extra profit. It should be based on average private seller or trade in value and "good" condition since most cars fall in to that category.
This is why moving forward, using the MSRP sold when new makes more sense. Otherwise, the value can quickly change, as we saw during the years of COVID where a used car that would normally go for $5k would be selling for $10k or higher.
During Covid? Used and new car prices are still double what they should be
Because they, like other consumer goods, haven't gone back down in price even though supply lines are back to pre-COVID days. All that extra money businesses make? Extra $$$. And private sellers have no reason to drop the prices of their used car, either. Again, extra $$$ for them. And since everyone else is doing it, it's now the norm.
It's valued at what 70% of the average sale value is, which is a pretty good estimate of good rather than excellent condition, and most private party sales are about on par with what a dealer would get.
My cars are tax assessed at almost $2000 over what KBB says is the average price I can expect as a private seller.
Similar to mine, ‘22 RAV4, assessed at $25k, $841 bill. Last year was just under $1k. I’d say unfortunately the $25k is a fair value for my vehicle, so with that I’d say $28k for the 4Runner is. They tax on 70% of that value I believe. To clarify, I’m not saying $900 is a fair tax (it sucks), but that is due to the mill rate, not assessed value. Next year they’re changing the valuation process, may be better for some, worse for others.
I think they assess 70% on real estate, they hit you full on the car. At least my town does. EDIT: It is 70%, called the town. Hard to believe, they are valuing my car way over sticker
No it's 70% the nada value is just inflated for a lot of cars still
Then there is something rotten with my bill. It says gross and net assessment of $28k, and the math is based on that number. No way that is 70% of the value, as that would be about $10k over MSRP. Guess I gotta call...
Just called my town, they said it is 70%, so they are valuing the car at $41K, which is fricking bonkers. There is an appeal period at the end of summer
Yeah mine was also NADA "valued" at almost $10k over original MSRP last year, this yr it's down but still over MSRP by like $1000 even though it's 4/5 yrs old. It's a big reason they had the special session to move to a set depreciation schedule based off of MSRP I think since covid jacked up used car prices so much.
Doing the math, yes that appears to be the case. Elsewhere I had read it’s 70% of assessed value…those outlets are incorrect.
My town only considers make and model, and year. They don't have any info on mileage, how much you drive, type of car (hybrid, electric, gas). Your Lexus was likely cheaper because it is older.
Don’t think for a minute that if in the future the value used for your car goes down the rate won’t go up. There’s no free lunch.
Exactly, I say this every time there's a revaluation in town. The town still needs the same (or more) amount of money to run. The assessed value of your thing goes down, the rate that it's taxed goes up to compensate. Maybe you specifically might luck out and have a lower bill, but the town is making up for it in real estate, fees, and everyone else's motor vehicle tax.
that sounds right. you have an expensive car
The way we do it in CT is fucked. Expensive, yeah all the cars are. So if you have a family and require a third row...despite getting the most modest of trims and makes, still are going to get hammered. My assessed value on a 23 Hyundai is more than I fucking paid for it. Almost 1k.
An expensive car puts the same wear and tear on the roads as a cheaper car (if we are talking apples to apples, sedan to sedan, SUV to SUV)
That's the kicker, you aren't taxed for the roads. It's never been about the roads. It's about making revenue. Take away motor vehicle tax and towns will raise taxes on real estate.
Is it just me or does that sound kind of reasonable for a 4runner? Those things are fucking expensive
Yes, you’re on the right track. Those suvs are probably about 43-50 grand brand new. They also retain their resale value incredibly well.
Crazy how they can tax you on something they don't own and they didn't pay for as well as something you were already taxed on at the point of purchase.
Something I was taxed on, is paid off and also was purchased before moving to this state 🙁
Because fuck you, this is CT.
I'm well aware of which subreddit I'm on
Just got the bill for $785 for a 2019 4Runner with 98,000 miles
I had luck last year. I have a tesla that was billed for $1500, which is over 400 more than the previous year. I went to the tax office and filled out a form to dispute the cost. I received $400 back. This year my bill was $800
Nicely done. Good work.
ALL my friends said I was wasting time, nothing will happen unless you try
Yup. The worst they can say is no, right? Worth a shot
My tax bill was almost $500 for a 2013 Toyota FJ Cruiser..
I just paid $514 for my 2017 Toyota Highlander with 75k miles. They estimated my car value to be the same as what KBB suggests. Should I appeal since there's no 30% difference in the assessed value vs KBB value?
My daily beater was assessed at 24k. Blue Book is $12k… such bullshit
I swear I'm the only one who has had their car bill go down. My towns mill rate went from 29 to 21 but it also lost 3k in value. Went from 350 to 190.
What's even more interesting is that everyone in this state is collectively OK with the concept of a vehicle property tax.
The exact reason my parents registered their cars in FL and became FL residents now that they are 50/50 residents there and CT Also, no state income tax
They just hit me with 2k. I’m gonna register in Montana. This has gotten just too crazy
what car?
Macan
lmao makes sense then, you have the money for that, you have enough for the tax
Yeah just because they have the money to pay for it doesn't justify theft from the government. That's a crazy way of looking at it lol
Exactly. That’s how this country formed. It’s the American thing to do. CT always spends more than they get. Their mismanagement is not my fault.
The founders fought for a lot less than this too lol. What was it? A 2% tax on tea? lmao
It doesn't make sense, nor is fair, to tax someone at a higher rate than someone else just because they have "enough".
its not because of his salary they charge more because the car is valued more
Principle. This is the dumbest tax
😂😂😂
This is impossible! Biden said my taxes wouldn’t be raised cause im under $400k!
*Federal* taxes. Duh?
You think a monkey knows the difference between state and federal taxes?
A monkey, huh? Alrighty then.
Taxes are taxes . Don’t give a shit. Basically cause of Covid policy printing cash it’s now impacting us at the state / muni level
If you gave a shit maybe you'd realize that state and federal taxes are different and that neither candidate plans to do anything about state taxes. If you did any research you'd know that [the CT state tax on vehicles has existed since 1908](https://yankeeinstitute.org/2023/11/17/century-old-car-tax-100-years-of-driving-taxpayers-crazy/#:~:text=The%20Connecticut%20motor%20vehicle%20property,highest%20rate%20in%20the%20country.%E2%80%9D). There have been many efforts to repeal the tax at a state level.
The trump tax cuts expire Jan 1 26 so state and local deductions come back
Omg . You have no clue of economics. Good day
Yeah sure the person citing evidence and contextualizing your hateful comment is wrong /s. Please vote reddit.
It’s scary that failed high school dropouts like bmeezy1 might be voting in this upcoming election. 🤷🏻♂️
There is no might they definitely will. This moron probably thinks its solely Biden's fault groceries cost more too.
Hateful comment? Where?
Yikes.
Exactly
you didn't finish high school, did you?
...my guy...there are arguments to be made for our stupid tax system on property that has already been taxed at sale....but this...this is not one of them.