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motocr

Valorem tax in GA amount?

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motocr
Looking into buying a fz07 and I live in Georgia was curious around how much the valorem tax was for you? Looking online I've found that the tax is apparently 7.0% by the fair market value for 2015, but this sounds like it could be based off msrp so I was curious if it was the same for everyone or not?
 
This may not be the right area to ask if it is sorry! But new rider looking to purchase seemed to fit in the new rider section to me.
 
 

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fromthecage
I'm not entirely sure. When I bought my FZ it got thrown into the financing. Sorry I couldn't help

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motocr
I'm not entirely sure. When I bought my FZ it got thrown into the financing. Sorry I couldn't help
 
 
 
 
Yeah I'm trying to buy it right out because full insurance is too high so financing is sorta out the question.Its a large purchase and taxes will suck but if I'm reading the tax info right we are basically paying double taxes on vehicles. You pay taxes on the purchase then repay the same amount in valorem tax but after that is 20 dollars ish a year. This is my first new "vehicle"/" motorcycle" purchase so I'm not entirely sure how that works. Always bought cars from individuals so bill of sales and used.
 

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fromthecage
The title tax works the same with a used vehicle as it does with a new. You pay the sales tax, then the title tax is calculated off the value of the vehicle. Ad velorum was the same way, but split up every year. Title tax is simply paid up front then it's just a $20 tag fee every year thereafter. I used the georgia title tax ad velorum calculator to estimate for a 2013 Yamaha FZ6R (closest I could get) estimating the value of the bike at $5150, but purchase price of $7500. Tax came out to about $525, so I would estimate spending about $600 on your title tax (though I could be overestimating)

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jake
Out the door I was 7200 it was winter I put 1000 down and payed it off in the spring. not sure if that helps

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bmwpowere36m3
TAVT is basically sales tax, I think it's around 7% of the sales price or book value (depending on which is higher). You pay it once and that's it. You still have to renew your registration every few years and pay the fee (~$20 I think).
 
In CT you pay sales tax, 6.35%; $90 to renew registration every two years; and property tax on vehicle every year (close to a couple hundred dollars). So it could be worse...
 
 

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oldsocks
Looking into buying a fz07 and I live in Georgia was curious around how much the valorem tax was for you? Looking online I've found that the tax is apparently 7.0% by the fair market value for 2015, but this sounds like it could be based off msrp so I was curious if it was the same for everyone or not?  
This may not be the right area to ask if it is sorry! But new rider looking to purchase seemed to fit in the new rider section to me.
 

motocr, I bought my FZ07 used in GA and paid $6800 and at the tag office it was something like the 7% you mention which was ~$476 + tag and title. Now I just get to pay the yearly $25 fee on my birthday. They did base that from the sales price. I am not sure if you have checked the website to calculate it yet, but it is http://onlinemvd.dor.ga.gov/Tap/welcome.aspx 
Let us know when you pull the trigger! :)
 

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motocr
Looking into buying a fz07 and I live in Georgia was curious around how much the valorem tax was for you? Looking online I've found that the tax is apparently 7.0% by the fair market value for 2015, but this sounds like it could be based off msrp so I was curious if it was the same for everyone or not?  
This may not be the right area to ask if it is sorry! But new rider looking to purchase seemed to fit in the new rider section to me.
 

motocr, I bought my FZ07 used in GA and paid $6800 and at the tag office it was something like the 7% you mention which was ~$476 + tag and title. Now I just get to pay the yearly $25 fee on my birthday. They did base that from the sales price. I am not sure if you have checked the website to calculate it yet, but it is http://onlinemvd.dor.ga.gov/Tap/welcome.aspx 
Let us know when you pull the trigger! :)

 
 
Thanks that's what I was curious about because if it's based off msrp that's a certain price while if it's based off sales price that's another and I should be pulling the trigger at the latest I'm hoping the end of September first week of October hopefully!

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fromthecage
Well good luck to you on your future purchase!

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bmwpowere36m3
Even if you get the sales price down $1k from MSRP, that's only a $70 reduction in taxes... i.e., I wouldn't worry about it when you already spending $7000+ on the bike.

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