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Old 09-23-2006, 11:15 PM
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Bad news for us Texans.....

This just SUCKS! I don't know who voted for this BS, but I'm going to find out. This bill takes effect as law on October 1, 2006. Texas is now reaching DEEP into the pockets of hard-working Texans.
To me presume and assume is the same thing. You know what they say when you assume.......

HOUSE BILL 4, Standard Presumptive Value TAX

HB 4 by Swinford addresses the problem of under-reporting of sales prices of motor vehicles in calculating the 6.25 percent motor vehicle sales-and-use tax.
The bill requires the Texas Department of Transportation to determine for vehicle sales tax purposes the “standard presumptive value” – or private-party transaction value – of a motor vehicle based on a regional guidebook of a national industry reporting service or other appropriate publication. The department must maintain the standard presumptive values of vehicles in its registration and title system, update the data at least quarterly, and publish the updated information. These data must be made available to county tax assessor-collectors.
Effective October 1, 2006, a county tax assessor-collector must use the amount paid for a motor vehicle to assess the state’s 6.25 percent sales-and-use tax on the purchase if the amount paid is at least 80 percent of the vehicle’s standard presumptive value. If the amount paid for the motor vehicle is less than 80 percent of the standard presumptive value, the county tax assessor-collector must assess the tax on 80 percent of the vehicle’s value. The county tax assessor-collector may assess the sales-and-use tax on an amount less than 80 percent of the standard presumptive value only if the retail value is shown on:
a receipt or invoice provided by a motor vehicle dealer;
a certified appraisal performed by a motor vehicle dealer; or


a certified appraisal performed by a licensed adjuster.
If the individual provides such information, the tax will be levied on the retail value shown on the receipt, invoice, or appraisal. If the seller chooses to present a certified appraisal, that appraisal must be presented by the purchaser to the tax assessor-collector within 20 working days after the vehicle is delivered to the purchaser.
The bill requires a motor vehicle dealer to provide a certified appraisal of the retail value of a motor vehicle, for which the dealer may charge a fee to be determined by the comptroller.
These requirements do not apply to transactions involving an even exchange of vehicles or to a gift. The bill also does not apply to abandoned or disposed motor vehicles.
The standard presumptive value provision in HB 4 takes effect October 1, 2006. The remainder of HB 4 takes effect August 14, 2006.
According to the LBB, HB 4 will result in gains to the state of $30.6 million in fiscal 2007, $42.3 million in fiscal 2008, and $42.8 million in fiscal 2009. These figures are in addition to vehicle sales tax revenue the state would have collected in these years if the standard presumptive value provision had not taken effect.


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Old 09-24-2006, 07:55 AM
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Tex, we have been paying thru the nose on that type of "taxation without representation" for years. I have seen the "property tax" on my old vehicles quadruple over the past 4 years only because the tax assessor arbitrairly increases the value for the sole purpose of increasing the revenue to the county. The only good news for sales tax rip off is that the actual purchase price can be used vice the states "book value".

Trees
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Old 09-24-2006, 08:03 AM
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We have the same problem in Nevada. I think most of it came about due to private party sales. People were selling a vehical for say 2k but on the bill of sale putting down 1k thus lowering the amount of tax due. The DMV/Legislators felt cheated so things were changed mandating that taxes are paid on low book value of the car purchased.
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Old 09-24-2006, 08:05 AM
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Now, from what you stated, that just looks like the typical BS for private party vehicle sales. Says nothing about specific vehicles. I am going to look into it further also.

By the way, I am sure everybody knows someone at a dealership or an insurance adjuster.

Jason
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Old 09-24-2006, 09:32 AM
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Its been that way up here in Ontario for many years.I'm sure it will spread everywhere eventually.
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Old 09-24-2006, 10:00 AM
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Here is the root of the problem, if you give a politician ten cents he will spend a dollar. They are always looking for more ways to impose "hidden taxes".
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Old 09-24-2006, 10:12 AM
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Like 123 said it has been that way here for years. What has changed is the procedure for collector/classic cars. What happens is a guy will buy a car from someone and not change the ownership. Figures I will do this when the car is done. So he buys a car for lets say 1000.00 . After doing a body off resto job goes to all that work and paying the taxes on the supplies and parts as he goes he goes into the license bureau and finds out he needs an appraisal first. Gets the appraisal and goes back to switch the ownership over. He will be taxed on the appraised value. So the moral of the story is if you have a project in the back yard get it switched over to your name cause there will be no notice if they switch the laws. Just another tax grab.
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Old 09-24-2006, 11:21 AM
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The taxes on a vehicle were paid when the vehicle was sold new so why are we still paying taxes on it over and over and over when it's 'handed' down to another? It's because 'money was involved' in the transaction? Flood your local elected officials about this crap! I've been saying this for years now....it's time for a tax revolution in this country....
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Old 09-24-2006, 06:49 PM
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Besides the mighty dollar, what get's taxed as much as a used car does when it's taxed time, after time, after time, after time, after................

You ge the point.
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Old 09-24-2006, 07:53 PM
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Can you say......."Cash Grab"

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Old 09-26-2006, 02:00 AM
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when congress is in session stock up on vaseline.
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Old 09-26-2006, 02:09 AM
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Quote:
Originally Posted by 41willys
Now, from what you stated, that just looks like the typical BS for private party vehicle sales. Says nothing about specific vehicles. I am going to look into it further also.

By the way, I am sure everybody knows someone at a dealership or an insurance adjuster.

Jason
Only 5 or 6 years ago insurance premiums seemed very affordable with fantastic coverage to match. Well, if you're an individual or family who pays for health insurance today chances are you're literally getting punched in the pocket book, and it hurts, i got to check out one of the site like www.insurancepaylite.com you could check how insurance companies price before renewing or getting new premiums
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Old 02-14-2007, 02:06 PM
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Bad news for us Texans

Back to the topic of the original post. I had heard the same story and had the same potential problem as mentioned. Bought a body for 1500, now have thousands in it, but hadn't transferred title. The complication came from trying to title it, when it was incomplete, not running, unlicensed for years etc. etc. Was told I had to have it finished and passed through inspections, maybe a bonded title, yada yada, yada. Just no way to do it until then. On the advice of another rodder, I changed my tactics. Walked in to dmv with my documents (new york registration certificate/bill of sale), said I did not want to license it, just transfer the title to my name. Done in 3 minutes. No inspection requirements, no insurance requirements, no appraisal. Paid taxes on the bill of sale amount, no questions asked. This was late January. Got the title in the mail last week. I understand I now have the option of getting an inspection and normal plates, or getting the antique, limited use plates.
Don't know why "transfer title only" is such a magic phrase, but try it. You'll like it.
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Old 02-14-2007, 05:18 PM
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"and money answereth all things." Ecc 10:19
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Old 02-14-2007, 06:00 PM
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man oh man something needs to be done!! we need a fresh government that is not thinking of ways to line there own pockets
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