VA Taxes and the new tax law

[marjoa]

Here are a couple of links that are very helpful that shed some light on State-by-State tax standings. Of course the new tax law will change some of these numbers but still is eye opening:

https://www.kiplinger.com/tool/retir...s-on-retirees/

Car Tax by State

[USMCRET]

This is why I hold on to a 13 yr old MH. My personal property tax burden is down in the noise level.

I just came back from a stay in Bristol TN. One of the guys at the CG told me they get a lot of motorhomes from VA this time of year. Something about having a receipt that shows the rig was in another state at year’s end. It sounded fishy to me, but I’m going to check it out to be sure.

This tax is the major reason I have not upgraded to a newer model.

[mikebreeze]

If you pay cash for a new RV in VA yes, the sales taxes hurt. If you finance it, it does not hurt as bad. As far as personal property taxes go I paid none on my rig. Just $24 for the Prince William County license fee. That's one good reason to live here.

[wildtoad]

You are buying a toy, pleasure item, vacation home or something you choose to buy that you do not need for survival. Why would you think other tax paying citizens should help with your purchase? I will continue to take advantage of all available tax codes but also am prepared to pay for my indulgences. The PP tax on mine here in SC is around $3,300 which is a big chunk to me, but I chose to buy.

[Sweetbriar]

Originally Posted by wildtoad

You are buying a toy, pleasure item, vacation home or something you choose to buy that you do not need for survival. Why would you think other tax paying citizens should help with your purchase? I will continue to take advantage of all available tax codes but also am prepared to pay for my indulgences. The PP tax on mine here in SC is around $3,300 which is a big chunk to me, but I chose to buy.

I was trying to think of an how to say the same but Wildtoad pretty much put that I was thinking to words.

Having lived, worked, owned property and participated in daily commerce activity in different states (PA, IL, CA) and in two foreign countries (Japan and Australia) prior to settling in Virginia the unavoidable combined federal, state and local tax burden here is fairly mild in comparison.

If I choose to indulge in a particular activity I'm fully aware that I may have an additional tax to pay be it hotel room, meal, rental car, airline, airport and most of those added taxes are in excess of 10%.

[USMCRET]

Originally Posted by wildtoad

Why would you think other tax paying citizens should help with your purchase?

I don't understand this point. Would you mind expounding?

[cruzbill]

Property taxes in CA are fixed at 1% of assessed valuation. For a $1M property, the taxes will be $10,000. (excluding local taxes)

[Dutch Star Don]

It's going to be a wait and see game with the new tax laws. Some things absorbed by the doubling of the standard deduction and some lost because of the $10000.00 cap. I guess we'll have to wait and see if some states will adjust their taxes.

Originally, California was not suppose to charge the same tax on planes, boats and RV' that was equivalent to sales tax.....suppose to be more of a smaller use tax. That didn't last and they just apply sales tax to everything. Sales tax in California is anywhere from 7.75 to 9.75, depending on where you live. When purchasing a new car, boat or RV, you can basically figure 10% on the sale with registration and tax.

[hohenwald48]

Originally Posted by wildtoad View Post
Why would you think other tax paying citizens should help with your purchase?

Originally Posted by USMCRET

I don't understand this point. Would you mind expounding?

I think his point is why should citizens in low local tax areas (who get very little federal tax deduction) pay higher federal taxes because citizens in high local tax areas (who get high federal tax deduction) don't have to pay federal tax on their deductible local taxes.

I hope that's not a political comment but if it is I'm sure the mods will remove it. It's kind of hard to discuss taxes and remain non-political at the same time.

[Crabby Mike]

Originally Posted by Sandy Swede

Consider Delaware. The registration tax on a $400k rig with a $75k trade-in is $13,813 (4.25% x $325k). No personal property tax thereafter, only $40/yr for tags.

There is no state sales tax.

Real estate taxes are modest. For example, RE taxes on a $400k house would be approx $1,500. With the 'geezer discount' (age 65) of $600, your net would be $900. BTW, $400k will get you a very nice 2,500 sf house a couple of miles from the ocean. You can get a condo within walking distance of the ocean for $400k.

Because we are retired, state income taxes amount to less than 3% per year.

[ moderator edit ]

Shhh, don't tell anyone -- Sussex County is too crowded already!

But you're getting a better deal than I am somehow -- I just renewed my motor home registration for $464 (for two years, I think). And the senior discount on property taxes is now a max of $400, but still a pretty decent deal. Too darn cold here today though -- heading for Arizona next week!

[Jtrving]

My point here was not to get into a political discussion, or argue who lives in a "better" state than others - it was just meant to point out that the tax burden on a larger, newer class A rig is certainly significant here in the Commonwealth.

[WorldCat25]

Wow, I thought Maryland was bad but we paid 6% sales tax and yearly registration is minimal.

[aether_one]

Used to be the sales tax on a vehicle in VA was only 2%. Did they change that or do you have to pay the full sales tax rate on a MH?

Between the income tax and personal property tax each year I saved a bundle when I moved to Florida, not to mention that inconvenient 6 month vehicle inspection.

[chuckftboy]

You all make me very happy that I bought and registered my coach in Florida.