(Poll) What state are you going to register your CT in?

[intimidator]

Below is a list of Vehicle Property Tax Rates by state, for those who live in one of those 26 states applicable. Note these are taxes paid in addition to the one time Sales Tax at purchase, and must be paid every year although depreciation will lower the taxed value over time which will vary by state.

Data was calculated using rates from https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585 , for an estimated Cybertruck price of $80K.

States with vehicle property tax are sorted by most tax to least tax from the top of the list.

States with no vehicle property tax are alphabetized at the bottom of the list.

Note that in the highest taxed states over a five to ten year period, one might easily pay over $10,000 dollars in cumulative vehicle property tax, thus negating any federal tax savings or even cost of ownership savings. I certainly would not want to register or buy a Cybertruck in those highest taxed states.

FYI​

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- ÆCIII

Yes, and I live in Virginia. And yes they "hose" you ANNUALLY for that PPTax. And yes they also charge you Sales Tax when you first register the vehicle of 4.15%, so another $3250 on top. Plus they now charge a "tax" i.e. fuel charge for having an EV of $116 bucks a year. Jeesch.

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[Tedacules]

Note, California just charges registration via vehicle value. So it's not like it's a separate charge. Every state does it differently, which makes it super-hard to compare them like this.

Not to ding you, as this is pretty cool.

-Crissa

Az does it like California BTW.

 

[CyberGus]

Yes, and I live in Virginia. And yes they "hose" you ANNUALLY for that PPTax. And yes they also charge you Sales Tax when you first register the vehicle of 4.15%, so another $3250 on top. Plus they now charge a "tax" i.e. fuel charge for having an EV of $116 bucks a year. Jeesch.

In TX it's 6.25% sales tax, a $400 "EV Fee" the first year and then $200/year after that.

But hey, at least we're reducing the "nanny state" by eliminating annual safety inspections. All that safety was soooo burdensome.

 

[intimidator]

In TX it's 6.25% sales tax, a $400 "EV Fee" the first year and then $200/year after that.

But hey, at least we're reducing the "nanny state" by eliminating annual safety inspections. All that safety was soooo burdensome.

Well if Texas instituted an annual personal property tax, then they can pay to force annual state inspections!

 

[davelloydbrown]

in Canada Québec province !!!!!

you guys in Quebec get about an 8 k grant don't you? Ford cancelled the grant in Ontario but I got it on my M3 in 2018. We need to ditch Ford in Ontario.

 

[COLAB]

you guys in Quebec get about an 8 k grant don't you? Ford cancelled the grant in Ontario but I got it on my M3 in 2018. We need to ditch Ford in Ontario.

Exact !!!!!

 

[SolarWizard]

Note, California just charges registration via vehicle value. So it's not like it's a separate charge. Every state does it differently, which makes it super-hard to compare them like this.

Not to ding you, as this is pretty cool.

-Crissa

They also charge trucks by weight

 

[SolarWizard]

a wedge of cybertrucks to montana for me

 

[Crissa]

are you able to register your CT without being a resident of the state, in any of the zero states?

You could have a business in the state, or a second home.

-Crissa

 

[Crissa]

The presumption by registering a vehicle in a state, that state is where the majority of its operation will be. So, if you were leaving the vehicle on that property or somewhere in that state, sure.

It's between your drop box and the tax man, every state is unique. California wouldn't be okay with that, they want a physical address where you (and presumably your truck) will reside, not just a drop address.

-Crissa

 

[HaulingAss]

Note that in the highest taxed states over a five to ten year period, one might easily pay over $10,000 dollars in cumulative vehicle property tax, thus negating any federal tax savings or even cost of ownership savings. I certainly would not want to register or buy a Cybertruck in those highest taxed states.
- ÆCIII

Negating any federal tax $7500 tax savings or even cost of ownership savings?

I assume this is relative to a comparable ICE truck?

That seems wrong, because wouldn't a comparable $80K ICE truck have exactly the same Personal Property Tax as an electric truck? Or are you saying the ICE truck would depreciate so much faster that it would lower your PP tax bill faster than the Cybertruck which will retain more value over the first 10 years of ownership? It doesn't seem like the difference in depreciation rates between the two would be enough to make the Cybertruck PP tax bill enough higher to worry about.

Plus, $80K seems unrealistically high if that is intended to be an average Cybertruck price. The average ICE truck transaction cost (in the US) as of last year was a bit over $59K. I would expect the average Cybertruck price to come in closer to that. Maybe $65K, not $80K.

 

[Crissa]

...because wouldn't a comparable $80K ICE truck have exactly the same Personal Property Tax as an electric truck?

I think ÆCIII is just pointing out how fraught paying more is, period, ICE or electric.

-Crissa

 

[CyberGus]

Can I register my CT in CT?

 

[ÆCIII]

Negating any federal tax $7500 tax savings or even cost of ownership savings?

I assume this is relative to a comparable ICE truck?

That seems wrong, because wouldn't a comparable $80K ICE truck have exactly the same Personal Property Tax as an electric truck? Or are you saying the ICE truck would depreciate so much faster that it would lower your PP tax bill faster than the Cybertruck which will retain more value over the first 10 years of ownership? It doesn't seem like the difference in depreciation rates between the two would be enough to make the Cybertruck PP tax bill enough higher to worry about.

Plus, $80K seems unrealistically high if that is intended to be an average Cybertruck price. The average ICE truck transaction cost (in the US) as of last year was a bit over $59K. I would expect the average Cybertruck price to come in closer to that. Maybe $65K, not $80K.

You do have some good points as my comparisons weren't exactly clear or apples to apples or specifying one state to another, which you sharply picked up on.

My focus was comparison between non-taxed or lower-taxed states, versus higher taxed states when buying a Cybertruck. In those situations I was noting it is better to be in one of the lower or zero tax states.

You're right if comparing new gas to new EV on vehicle property tax in the same state, and I doubt the states are keen enough to depreciate them on any level of accuracy as they likely use a standard formula in many cases.

I was pointing out the sheer amount of vehicle property tax in those states is comparable to the tax incentives or fuel savings over five years, so to me it would be nice to be in a state where I could keep that tax incentive or ownership cost savings instead of giving those amounts to the state government.

- ÆCIII

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