Community Forums

nathan55 · 03-08-2016, 10:28 PM

Just got a great deal on a brand new ventana, convinced myself it's worth the more $, convince my wife, slap down a large deposit, the next day call for insurance 3k a year that's a little higher than I wanted but I can live with it, call the tax assessor to find out about property tax and informed it will run about $13,000 a year!!#$%^

Doing the math this thing is going to cost me roughly $30,000 per year just to own.

Can someone please talk me off the ledge because in 10 years that will be 300,000........I'm starting to feel sick

Mr_D · 03-08-2016, 10:31 PM

Oh wow! We paid some $24,000 in use/sales tax (and totally deductible on federal taxes) on the used Magna last year and that's only on the difference between trade in and price of the "new" one at almost 10%. But no property tax on RV's in WA and our license tags only cost us $116 for the year. Insurance was about $1800 a year for it.
Back in 2000 it was costing us over $2000 a year for a two year old gas rig for license tags, then a referendum passed that lowered the cost. Maybe that's what needs to happen where you live!

nathan55 · 03-08-2016, 10:35 PM

Yeah uncle Sam is one son of a gun, it will cost me more in taxes then in monthly payments I'm only putting down 20%

Electra 225 · 03-08-2016, 10:48 PM

Nathan I don't guess this will make you feel better at all. But I feel your pain on taxes. If it weren't for over taxation at all levels in this great country, a man could get something done.

And if we were able to get more done on our own, the government would actually end up with more revenue. They've had it backwards for years.

Sorry, I just can't help but say it.

Hang in there somehow. I wish you the best, God will see ya through.

W.D.

Traxless · 03-08-2016, 10:52 PM

Quote:

Originally Posted by nathan55

Can someone please talk me off the ledge because in 10 years that will be 300,000........I'm starting to feel sick

Can you register your MH in other State? While I don't know how this is done, I see ads in the back of RV magazines about this strategy. Under the same circumstances, I'd find a family member some place that does not tax a RV as property (like Texas for example) and make them a gift with strings! In the moment, that's the best I can come up with.

Mr_D · 03-08-2016, 10:58 PM

Quote:

Originally Posted by Traxless

Can you register your MH in other State? While I don't know how this is done, I see ads in the back of RV magazines about this strategy. Under the same circumstances, I'd find a family member some place that does not tax a RV as property (like Texas for example) and make them a gift with strings! In the moment, that's the best I can come up with.

Probably not legally! And the fines are stiff. Just not worth it IMHO.

Electra 225 · 03-08-2016, 11:01 PM

Quote:

Originally Posted by Traxless

Can you register your MH in other State? While I don't know how this is done, I see ads in the back of RV magazines about this strategy. Under the same circumstances, I'd find a family member some place that does not tax a RV as property (like Texas for example) and make them a gift with strings! In the moment, that's the best I can come up with.

Hello Traxless,

This would conjure up a past conversation here about Montanna LLCs. I actually own one, but after learning more, could not get past the consequences of it going wrong. I've heard some do it without problems in my home state. But I just don't know. After reading here on the forum, it seemed the risk far out weighed the benefit. I'd hate to keep "looking over my shoulder".
Never did get to a comfortable place on it myself. So I paid my $11,500 tax.

I'll just use my LLC for my other business holdings.

Regards,
W.D.

bwaller · 03-09-2016, 05:11 AM

What state is this? I want to make sure I don't move there!

univmd · 03-09-2016, 05:36 AM

RI charges $13k property tax per year for a Ventana?! Here in MD we paid 6% sales tax upfront on our brand new $120k coach, and about $175 every two years for the tags. Insurance for coach is about $950 per year.

Quote:

Originally Posted by nathan55

Just got a great deal on a brand new ventana, convinced myself it's worth the more $, convince my wife, slap down a large deposit, the next day call for insurance 3k a year that's a little higher than I wanted but I can live with it, call the tax assessor to find out about property tax and informed it will run about $13,000 a year!!#$%^

Doing the math this thing is going to cost me roughly $30,000 per year just to own.

Can someone please talk me off the ledge because in 10 years that will be 300,000........I'm starting to feel sick

patch-y · 03-09-2016, 05:46 AM

In Florida..... $1400/year insurance on a 2015 40'Ventana...... no property tax on the unit..... 6% sales tax on the after-trade value....
You seem to be near Mass and Conn...... why not keep it there and register in one of those states? (don't know if they tax vehicles as property)

GaryKD · 03-09-2016, 06:09 AM

Hi nathan55,
Consider registering the coach in South Dakota or Montana. Do not be intimidated by those saying it is not legal.
1. Call an attorney in the state where you live.
2. Call an attorney in SD or MT. They are listed in the FMCA or GS magazine. You can also Google them.
3. Understand the rules and costs (there is no free lunch) in each state.
4. Follow the rules, you will be fine.
5. You will also have much more money to invest in your retirement.

Many states continue to ignore they are competing for tax dollars with other states. Until this is corrected, the every day guy will need all the help he can get.

JohnBoyToo · 03-09-2016, 06:10 AM

Can we talk you over the cliff called the state line ?

Ridiculous to have to pay that much for a recreational item !!!

[ moderator edit ]

wnytaxman · 03-09-2016, 06:25 AM

Nathan, what state are you dealing with? Most states that have a property tax on RV's do so on a declining basis. Some states, such as Virginia may allow you to register and garage your rig in another county which may save you some dollars. Providing some more information would be helpful for many of us may have "been there and done that" which may provide some helpful insight.

wildtoad · 03-09-2016, 06:33 AM

Here in SC my new Bay Star Sport is going to cost me $300 in sales tax, but about $3,500 in personal property tax. The tax will go down every year. Sales tax is capped at $300 on all vehicles regardless of price paid.