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Old 12-26-2018, 11:34 AM   #23
Registered User
Join Date: Aug 2018
Location: Savannah, GA
Posts: 42
Re: Inflation and Taxation

Alright, fresh from my latest DMV visit. The recognized fair market value was in fact $28,200. Previously, I had paid $18 title fee plus $5 Title Ad Valorem Tax (1% of $500). It seems they charge 1% instead of 7% of FMV based upon the age of the vehicle.

So today I had to pay the difference (1% of $28,200 = $282 minus the $5 already paid so out the door with $277 less in my pocket).

I did file an appeal so I will post when more as developments occur. I think I will try my best to convert to old vehicles across the board to avoid surrendering anymore taxes than required to the state. $277 is a drop in the bucket compared to the $2,300 I had to pay for my '15 Eco-diesel, but the principle of the issue gets me.

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