Fairfax County General :
Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Auto TAXATION: Should it be law that taxation stops when total paid amount exceeds value of item taxed?
Posted by:
uncle sam
()
Date: January 16, 2018 05:08PM
QUESTION: if, due to "high taxation", you've paid as much in taxes as you did when you bought a thing (note also your income was taxed - add that in!), should you be forced to continue paying property tax? The question is simple: at the 20 year mark for an automobile you've bought the government a car for the privilege of driving a car.
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Real estate tax rate of $1.13 per $100 assessed value of your home. So if your in a $500,000 home or $1,000,000 home it's still 89 years until your tax payments equal the property value. Since very few people are in a home paying property tax 89 years, very few hit the "paid double" mark or %100 taxation mark.
The tax rate for most vehicles is $4.57 per $100 of assessed value. This means in 21 years the value of the car is the same as taxes paid. But because a car may be used and differently assessed (as in my case), one may be paying a higher assessed value - the magic %100 taxation level arise much sooner.
QUESTION
If, due to "high taxation", you've paid as much in taxes as you did when you bought a car (note also your income was taxed - add that in!), should you be forced to continue paying property tax? The question is simple: at the 20 year horizon you've been taxed %105, you've bought a car for someone else and are paying repair bills on the car you have. Should the taxes continue? And if they do, do you really have any "property rights" in USA?
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Real estate tax rate of $1.13 per $100 assessed value of your home. So if your in a $500,000 home or $1,000,000 home it's still 89 years until your tax payments equal the property value. Since very few people are in a home paying property tax 89 years, very few hit the "paid double" mark or %100 taxation mark.
The tax rate for most vehicles is $4.57 per $100 of assessed value. This means in 21 years the value of the car is the same as taxes paid. But because a car may be used and differently assessed (as in my case), one may be paying a higher assessed value - the magic %100 taxation level arise much sooner.
QUESTION
If, due to "high taxation", you've paid as much in taxes as you did when you bought a car (note also your income was taxed - add that in!), should you be forced to continue paying property tax? The question is simple: at the 20 year horizon you've been taxed %105, you've bought a car for someone else and are paying repair bills on the car you have. Should the taxes continue? And if they do, do you really have any "property rights" in USA?
Re: Auto TAXATION: Should it be law that taxation stops when total paid amount exceeds value of item taxed?
Posted by:
vglxm
()
Date: January 16, 2018 05:16PM
DEATH TAXES are illegal in USA. Has this somewhat recent (decades) law of "continual property taxation" 2x as bad as the ILLEGAL death tax? (p.s. as a result, democrats have schemes about shuffling property around death to avoid tax, there are books on how to do it))
In Olde England the government took %50 of an estate upon death of the holder, which prevents the rich underlings, who are like as not squanderers, from endlessly living off of "old money".
The Constitution and USA forbid death Tax and upheld property rights. However if one pays %100 tax over the expected longest life of an item ...
... THAT'S TWICE THE ENGLISH THAT THE FORE FATHERS OF THE CONSTITUTION FORBID IN THE USA.
In Olde England the government took %50 of an estate upon death of the holder, which prevents the rich underlings, who are like as not squanderers, from endlessly living off of "old money".
The Constitution and USA forbid death Tax and upheld property rights. However if one pays %100 tax over the expected longest life of an item ...
... THAT'S TWICE THE ENGLISH THAT THE FORE FATHERS OF THE CONSTITUTION FORBID IN THE USA.
Re: Auto TAXATION: Should it be law that taxation stops when total paid amount exceeds value of item taxed?
Posted by:
uncle sam
()
Date: January 16, 2018 06:15PM
fun facts: dade county, FL has same rate as fx co, but wichita kansas is a bit higher
What does modern England do? For death tax it's %40 only if you have over 1/4 million inheritance. For property tax it's scaled so that small homes PAY NOTHING and mansions pay ~ %10 (it's between %0 and %10). For auto tax their system is part of UK, some non-transferrable hybrid co2 awarding system where expensive cars pay nearly no tax (however, it just changed in 2017, some now). the hybrid tax is complicated, however calculators show you pay DOUBLE of that in fairfax BUT (ten times?) LESS if you bought a ford ecosport (less co2) and paid < $40k for it.
What does modern England do? For death tax it's %40 only if you have over 1/4 million inheritance. For property tax it's scaled so that small homes PAY NOTHING and mansions pay ~ %10 (it's between %0 and %10). For auto tax their system is part of UK, some non-transferrable hybrid co2 awarding system where expensive cars pay nearly no tax (however, it just changed in 2017, some now). the hybrid tax is complicated, however calculators show you pay DOUBLE of that in fairfax BUT (ten times?) LESS if you bought a ford ecosport (less co2) and paid < $40k for it.