I bought my car may 2008. now my plate needs to be renewed b4 the end of feb. so i go to dmv and they say i need to pay 470.00 for adalorium tax. wtf is this?????anybody had it? is it something i can right off on taxes along with the purchase of the car? by the way,when i bought the car the price was tax,tags included. 28300 out the door.

Sounds like its a vehicle excise tax of some sort. Welcome to owning something your local government can tax...wonderful, isn't it? :)

It's ad valorem tax, and unfortunately some states will tax you every year upon renewing based on what your car is "worth". Yea, it stinks.

viper do u know if i can write that off on my taxes?

That's a good question, I'm not sure if you could write it off either state or federal, if it's even possible. Something good to look up though!

In Indiana it's a personal property tax and it gets written off on the federal return.

"If you itemize your deductions on Schedule A, and your registration fee is based on vehicle value (not weight), you can itemize that deduction. This is an often overlooked deduction, but given the value of some vehicles, it could be worth checking into."

The IRS states:

It has to be a personal property tax, not an excise tax, in order to be deductible. Deductible personal property taxes are only those based on the value of personal property such as a boat or car. The tax must be charged to you on a yearly basis, even if it is collected more than once a year or less than once a year. To be deductible, the tax must be charged to you and must have been paid during your tax year. Taxes may be claimed only as an itemized deduction on Form 1040, Schedule A, Itemized Deductions.

thanks cityboy. what do u work for hnrblock?

Nope. Just using that write off for the last 15 years.:thmsup:

I bought my car may 2008. now my plate needs to be renewed b4 the end of feb. so i go to dmv and they say i need to pay 470.00 for adalorium tax. wtf is this?????anybody had it? is it something i can right off on taxes along with the purchase of the car? by the way,when i bought the car the price was tax,tags included. 28300 out the door.

It is the states way of "Let me borrow money on your car." :thumbsdow

It is a Personal Property Tax on your vehicle and yes, you can deduct it from your State taxes at the end of the year. GA has had this stupid tax for a while. It will go down every year. Our '95 Odyssey is now at $40.

Kind of a kick in the ass to start paying attention to who you vote for isn't it? In the great state of Missouri they send the bill so that it arrives the first week of December and has to be paid by December 31st. Nice huh? Mine was $1100 this year for 1 truck and 1 car.

thanks cityboy. what do u work for hnrblock?

I do part time and he is correct... :)

here in GA we have ad valorem tax as well. you are allowed to enter it on your taxes. i am not sure how much it really helps. you may want to check your tax laws.

Moderators -

Can this thread be blocked from readers in the People's Republic of New York? Our governor and legislators don't need any more ideas. Our gov proposed an 18% tax on sugared nonfruit beverages "to raise awareness of childhood obesity." To raise something, that's for sure.

Thank you.

Taxes up to our ears. That's 30+ years of liberal ideology taking hold for ya. We can all thank the 60s and the morons in the drug movement.

Taxed when you make it. Taxed when you spend it. Taxed when you die with some of it left. :dunno:

Well none of you are going to like the new tax they're proposing. A per mile tax of 0.25 cents instead of or in addition to the gas tax (don't remember). Yes screw the people who bought fuel efficient cars because they have a long commute, and reward the fat cats who drive gas guzzlers and get 0.5 miles to the gallon. Pisses me off to no end! Oh and you want to know how they propose to do this, GPS mounted in your car to keep track of your mileage (where the frick is orwell when you need him??)

EDIT: never mind my rant, someone must be awake in the government to axe this stupidity...

http://www.msnbc.msn.com/id/29298315

Well none of you are going to like the new tax they're proposing. A per mile tax of 0.25 cents instead of or in addition to the gas tax (don't remember). Yes screw the people who bought fuel efficient cars because they have a long commute, and reward the fat cats who drive gas guzzlers and get 0.5 miles to the gallon. Pisses me off to no end! Oh and you want to know how they propose to do this, GPS mounted in your car to keep track of your mileage (where the frick is orwell when you need him??)

EDIT: never mind my rant, someone must be awake in the government to axe this stupidity...

http://www.msnbc.msn.com/id/29298315

The first good action by the new administration, was turning this idea down.

at least for now. :paranoid:

It's ad valorem tax, and unfortunately some states will tax you every year upon renewing based on what your car is "worth". Yea, it stinks.

Sounds similar to personal property tax that we have in VA. I hope this is not in addition to the ad valoreum tax.

I say legalize marijuana and heroin (as it was in 1908), tax it, and pay the national debt in 6 months. :thmsup: