Smart Sales & Property Tax

[brian r]

I'll take issue with the Vincentric link, at least with the numbers for CT (where I live).

We have a 6% sales tax, from which the fortwo is exempt because it is DOT rated to achieve 40 MPG. But we also have Personal Property Tax. It's based on a mil rate applied by your town (each is different) to a value assigned by a "blue book" the state uses. Your tax can differ markedly depending on where you live.

I don't think that they used PP tax in their calculations. We have a Mini that is 2 years old this month. It cost $18,900, and so far I've paid about $900 in yearly property tax, plus the initial 6% sales tax. So I don't see how the Toyota could be $1600 for five years unless it's just sales tax. And the Audi has an MSRP of $120,000. On top of the $7200 sales tax, my town would hit me for about $3200 the first year on property tax. It would go down a few hundred each year, but the total for 5 years would be over $12k, plus the initial sales tax. Their estimate is about $9k.

I'd take that Vincentric estimate with a grain of salt.

[2009Aveo5]

Originally Posted by brian r

the numbers for CT (where I live).

We have a 6% sales tax, from which the fortwo is exempt because it is DOT rated to achieve 40 MPG.

I thought that was for hybrid ONLY vehicles that got more than 40mpg in city, but it looks like they have another passage which includes passenger cars at 40mpg on highway.

http://www.ct.gov/drs/cwp/view.asp?A=1436&Q=400072

The vincentric isn't accurate...the tax/fee system is too complicated to be accurate. CT has different mil rates for all 1000 towns to figure out property taxes, but I didn't think the ForTwo was sales tax exempt in CT. Good to know. That's over a $1000 in savings without having to mess with filing for tax return credits. Plus you are paying less at the pump, less gasoline taxes...nice incentive to get a Smart.

[CruisingAZ]

I do not know if it is still the same, but I grew up in Oregon where there is no sales tax and the annual plate fee was something like $28 for two year tags.