What States Tax Vehicles and Can These Taxable Events Be Avoided
Yes, unfortunately a vehicle property tax must be paid because it is based on the vehicle’s assessed value if it were considered Clean Retail Value (CRV) according to the NADA Blue Book Value Guide. Therefore, even if the vehicle was purchased for $1– it would be assessed a tax based on the book value. All states offer exemptions, credits or abatements to low-income individuals for personal property taxes; however, a business or trust will not qualify. The only alternative is to seek legal counsel and verify if one can obtain out-of-state registration, where such a tax does not exist, without penalty from the state or municipality.
NOTE: These taxes are unavoidable at our current moment in research - as the taxable events appear to come from mere possession of moveable property to which the law offers no remedy which we can ascertain. Connecticut, Virginia, Mississippi and Rhode Island are among the states that levy taxes on vehicles.
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