VA tax assessment
#1
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2001 E55 & 1988 BMW M6
VA tax assessment
Just got my tax assessment for my 2001 E55 - Value is assessed at just under $59k. I've recently seen a couple of cars with much higher miles sell for significantly less.
Has anybody had any experience in getting their assessed values lowered? What sort of sales history [if any] did you need to provide? Any help here is obviously apprecieated
Has anybody had any experience in getting their assessed values lowered? What sort of sales history [if any] did you need to provide? Any help here is obviously apprecieated
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You can get a break on your car tax if you have high milage. Call your County office for the guidelines. If you have enough miles you can fill out the required forms send them in and get a $ break.
This from the Hanover County web site:
High Mileage Discount
In an effort to accurately determine the value of vehicles, the Commissioner of the Revenue offers a discount for vehicles with high mileage (see table below for required mileages). A high mileage form must be filed annually by May 1. For more information, contact the Commissioner's Office at (804) 365-6129.
Model Year
Must Have as of 1/1/2003
2002 20,001+ miles
2001 35,001+ miles
2000 45,001+ miles
1999 55,001+ miles
1998 65,001+ miles
1997 75,001+ miles
1996 90,001+ miles
1995 - 1993 100,001+ miles
1992 & Older 115,001+ miles
This from the Hanover County web site:
High Mileage Discount
In an effort to accurately determine the value of vehicles, the Commissioner of the Revenue offers a discount for vehicles with high mileage (see table below for required mileages). A high mileage form must be filed annually by May 1. For more information, contact the Commissioner's Office at (804) 365-6129.
Model Year
Must Have as of 1/1/2003
2002 20,001+ miles
2001 35,001+ miles
2000 45,001+ miles
1999 55,001+ miles
1998 65,001+ miles
1997 75,001+ miles
1996 90,001+ miles
1995 - 1993 100,001+ miles
1992 & Older 115,001+ miles
#4
I have a car registered in Prince Edward County and I went to get my value reduced as well. I went down to the courthouse and told them I had high milage and the car was not worth as much as you said. Some counties use the NAD? book and some use Kelly's. I also had a copy of a printout of what my car was worth using kelly's blue book online and all options and milage and such and the person made an adjusment right there. I hope that this is easy for you. It also depends on what county you live in. I mean, Prince Edward is a small place where you can actually talk to people. I hope all goes well.
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2001 E55 & 1988 BMW M6
I spoke with the county - the reason my assessment was so high [value at almost $59k] is due to the fact that they assess for the year at the Jan 1 NADA book value... as of this January 2004, the valuation drops to $48k or so.
It's true, that if you've got high-milage [in excess of 12k per year] you can get an adjustment - not the case for me however.
And finally, if there's been any damage to the car, you can get a reduction in value for the work that's been done - invoices are a requirement for this reduction.
Just an FYI for for those in VA -
It's true, that if you've got high-milage [in excess of 12k per year] you can get an adjustment - not the case for me however.
And finally, if there's been any damage to the car, you can get a reduction in value for the work that's been done - invoices are a requirement for this reduction.
Just an FYI for for those in VA -
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