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NC classic car owners Beware!
Posted by: Skizz ()
Date: October 08, 2019 09:35AM

It seems NC has decided that they need more money.
They are now taxing classic cars with evaluations from NADA and Hagerty.
My friend just got his tax evaluation for his 66 Monza, tax went from $14 a year to $137!
Be prepared..

64 Monza Vert
64 Spyder Vert
2002 Chev 1500
1996 Impalla SS
Eastern NC

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Re: NC classic car owners Beware!
Posted by: MtnVairMike ()
Date: October 08, 2019 09:55AM

Thanks Tom for the head's up.

May pay to get appraisals on some of our less perfect cars.
Will be interesting to see how NCDMV determines Grade 1-5 ranking without seeing the car.

See you in Maggie Valley

Mike

1966 Monza Convertible, 140HP-4 speed, Ermine White

Others in the menagerie...
72 Corvette Stingray, 58K miles, owned since 86
72 MGB, 112K miles, bought from original owner in 09
78 Chevy pickup, 124K miles, bought new in 78
93 Corvette, LT1/6spd, 210K miles, daily driver since 96

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Re: NC classic car owners Beware!
Posted by: Skizz ()
Date: October 08, 2019 10:10AM

He did negotiate it down..
How the local tax guy can evaluate a car is beyond me.

See you friday!

64 Monza Vert
64 Spyder Vert
2002 Chev 1500
1996 Impalla SS
Eastern NC

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Re: NC classic car owners Beware!
Posted by: MattNall ()
Date: October 08, 2019 12:25PM

And this is an annual tax? And People think it's bad in Cali!


When registering in your name.... "Use Tax" 10% of purchase price [ Bill of sale if lower than CADMV's book value ].


ONE time...

MODERATOR
Sea Mountain, between Charleston Harbor and Coos Bay! SW Oregon Coast
Click HERE for My Website...Click HERE for My TechPages!
..............................110-PG.................................................Webered-Turbo

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Re: NC classic car owners Beware!
Posted by: joelsplace ()
Date: October 08, 2019 12:27PM

One time tax in TX 6.25%.

Joel
Northlake, TX
5 Ultravans, Lost count at 100 Corvairs...

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Re: NC classic car owners Beware!
Posted by: Skizz ()
Date: October 08, 2019 01:17PM

Annual tax in NC.

64 Monza Vert
64 Spyder Vert
2002 Chev 1500
1996 Impalla SS
Eastern NC

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Re: NC classic car owners Beware!
Posted by: billh1963 ()
Date: October 08, 2019 01:20PM

Unfortunately, sometimes it seems that you really can’t own anything of value.

Think you own your house because it’s paid off? Try not paying your property taxes and see who owns it.

------------------------------------------------------------------------
1964 Monza Coupe
1965 Canadian Monza 140 (Corsa Clone)
1965 Corsa 140 Willow Run built
1965 Corsa 140 LA built
1966 Corsa 140 project
1969 Monza 110-PG
Right in the middle of South Carolina

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Re: NC classic car owners Beware!
Posted by: Mel ()
Date: October 08, 2019 03:02PM

in Ontario Canada you must get approved appraisal of collector car, doesn't matter what you paid you pay tax on the appraisal , gets expensive in a hurry sad smiley

Orangeville, Ontario. CANADA

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Re: NC classic car owners Beware!
Posted by: joelsplace ()
Date: October 08, 2019 04:06PM

Property tax = rent to the government(owner). You'll have to go to the Caymen Islands to own real estate.

Joel
Northlake, TX
5 Ultravans, Lost count at 100 Corvairs...

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Re: NC classic car owners Beware!
Posted by: idiyaught ()
Date: October 08, 2019 07:39PM

Mel, you just have the wrong appraiser. You pay the guy here twice. Once for government 2nd time for insurance.

John Oostdyk
Thornhill, Ont
63 Rampy
65 Greenbrier
64 Convertible

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Re: NC classic car owners Beware!
Posted by: MtnVairMike ()
Date: October 09, 2019 05:51AM

billh1963 Wrote:
-------------------------------------------------------
> Unfortunately, sometimes it seems that you really can’t own anything of value.
>
> Think you own your house because it’s paid off? Try not paying your property taxes and see who owns it.


Grandson works for the fire dept in our town. Fire protection isn't "free" for that paid for house.

Mike

1966 Monza Convertible, 140HP-4 speed, Ermine White

Others in the menagerie...
72 Corvette Stingray, 58K miles, owned since 86
72 MGB, 112K miles, bought from original owner in 09
78 Chevy pickup, 124K miles, bought new in 78
93 Corvette, LT1/6spd, 210K miles, daily driver since 96

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Re: NC classic car owners Beware!
Posted by: Lane66m ()
Date: October 09, 2019 06:20AM

You may own the home but government entities own the land and all improvements on it. You get to pay yearly for the improvements. Even if it is just wood, the trees have value which increase yearly until cut. Then the land is improved which increases its value. Stuck no matter which way you turn. There is no freedom in this country like back in the 1700s.

Al Lane
Ellabell, GA 31308

1966 Monza Coupe, 110 hp, 4 Spd
1966 Monza More Door 110 hp, PG
1968 Camaro SS Coupe 350 CI 295+ hp PG
1964 Greenbrier Deluxe, 6 dr, 80 hp car engine, PG
1947 Farmall A tractor 15 hp


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Re: NC classic car owners Beware!
Posted by: mikeycee ()
Date: October 09, 2019 07:20AM

In some foreign countries if you don't fall in line they take their rope and hang you. In the good ol' USA you are given enough rope to hang yourself....that's the difference. eye rolling smiley Mike

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Re: NC classic car owners Beware!
Posted by: WhenIm64 ()
Date: October 09, 2019 07:22AM

Lane66m Wrote:
-------------------------------------------------------
> There is no freedom in this country like back in the 1700s. <

I agree. Let's go back to that time. No police protection, no fire protection. No improved roads. No EMTs to come to your aid when you get sick or hurt yourself. No school system.

Wait -- Even back then didn't most towns have a sheriff and a fire brigade, a doctor, and a schoolmarm? Yes, they did. All paid for by the community members.

These essential services aren't free, then or now.

Here where I live, there is no annual personal property tax such as the one applicable to collector cars in North Carolina. But guess what? The total State tax burden in NC is still better than here in NJ, which is why a lot of people relocate or retire to the south.

Decades ago an old geezer, commenting on his tax bill, said "Pretty fair rent for living in this country."


WhyImWhenIm64

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Re: NC classic car owners Beware!
Posted by: curt ()
Date: October 09, 2019 08:31AM

Property taxes get out of line.

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Re: NC classic car owners Beware!
Posted by: joelsplace ()
Date: October 09, 2019 09:03AM

Property taxes shouldn't be paying for roads. Fuel tax is supposed to do that.
I can guarantee that 200 years ago having a sheriff and other protections didn't cost people a third of what they earned.

Joel
Northlake, TX
5 Ultravans, Lost count at 100 Corvairs...

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Re: NC classic car owners Beware!
Posted by: billh1963 ()
Date: October 09, 2019 09:34AM

MtnVairMike Wrote:
-------------------------------------------------------
> billh1963 Wrote:
> -------------------------------------------------------
> > Unfortunately, sometimes it seems that you really can’t own anything of value.
> >
> > Think you own your house because it’s paid off? Try not paying your property taxes and see who owns it.
>
>
> Grandson works for the fire dept in our town. Fire protection isn't "free" for that paid for house.
>
> Mike

I appreciate that fact. But, you are forced to pay...whether you want it or not. Even then, many townships/counties send a bill if they respond to a fire. Sort of "double dipping", isn't it?

I would rather own something outright. Put in place a "pay by use" fee or even a high sales tax to collect fees for schools or other "community" needs.

But, this is a Corvair forum. So, I'll stop there... carry on smiling smiley

------------------------------------------------------------------------
1964 Monza Coupe
1965 Canadian Monza 140 (Corsa Clone)
1965 Corsa 140 Willow Run built
1965 Corsa 140 LA built
1966 Corsa 140 project
1969 Monza 110-PG
Right in the middle of South Carolina

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Re: NC classic car owners Beware!
Posted by: Vairismo ()
Date: October 09, 2019 09:53AM

By the way, property taxes are a County thing, not a State tax. Clever little arrangement that, in my view. I dream someday of controlling a County.

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Re: NC classic car owners Beware!
Posted by: playerpage ()
Date: October 09, 2019 12:18PM

Prop 13. The one good thing California did regarding taxes.

____________________________________________

Eric C. Player, Porterville, CA
Member: CORSA National, Central Coast CORSA, South Coast CORSA, and San Joaquin Valley Corvair Club
THEN: 1965 Monza 110 Canary Yellow
1967 Monza 140 Red
1966 500 110, Black; nicknamed "Shadow"
1965 Monza 110, Camaro Yellow; nicknamed "Silver"
NOW: 1966 Corsa 180 Turbo; nicknamed "Bluvair"

"It would not have helped if I had [taken notes], as he would start a paragraph with, 'It is therefore obvious. . .'
and go on from there to matters which may have been obvious to him and God but to no one else."
-- Robert A. Heinlein, character of Daniel B. Davis, 'The Door Into Summer.'

------

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Re: NC classic car owners Beware!
Posted by: Marco_a_p ()
Date: October 09, 2019 02:02PM

Prop 13.... Not for long...

Marco
A 2nd Gen Monza Wagon, a 2nd Gen GB 8door, a 2nd Gen (61's were 1st Gen) R/s and a 62nd Gen Turbo coupe..

Hanging out with the scorpions, king snakes, road runners, coyotes and quails In the southern desert of the silver state
Mesquite NV 89024

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