Purchasing an RV and taxes
Wow what a mistake. We had our eyes on an RV made by Thor as our next purchase and trading in our old RV. On a whim we found a unit in Panama City Florida. We stopped and worked out an acceptable...
Forum Discussion
VintageRacer wrote:
Is this property tax or sales tax? I would expect the property tax to be on the value of the thing in question, or the top line number, while the sales tax should be on the net number, the difference between the price and the trade that you actually paid out of pocket.
Brian
They are speaking of tag registration fees :
30 days latter in our home state of VA it was time to take care of registering the motor home at the state and county level. Turns out DMV uses the bill of sale and bases its taxes on the sale price of the new home and the county uses the same number DMV uses. This resulted in an overpayment of taxes in excess of 12k in the first year.
DMV -Dept of Motor Vehicles
Happened the same here in GA with a friend of mine who purchased a fiver toyhauler, becuase of a trade in, it was shown at the very inflated MSRP, with the trade in valued extra high, his tag taxes where not good.
GA recently, did away with advalorim (Spelling?) taxes on driveables, so my recent purchase of a Class C, did not have additonal taxes when registrating for a tag, just tag fees ($25).:B
Seems to be common way they do the trade-in sales. Would there be a benefit to the dealer's accounting - (taxes on their end, taking a loss on the trades)????
Markiemark:C
