Brady Posted May 30, 2011 Share Posted May 30, 2011 Anyone know what I'll be facing to sell my LGT? I moved to Colorado in 2007, Registered the car in Colorado in '08. Tags expired in '09 and have stored the car since, never renewed registration/tags. I've decided I want to sell the girl for something I'll actually drive on weekends (probably a 911/964/993 Cab). As best I can tell, I'll probably have to pay the back "ownership tax" for Colorado, but I'm curious if there's a way to get around paying what amounts to back registration fees for a car that hasn't seen a public road in damn near 3 years. Any help is greatly appreciated! Link to comment Share on other sites More sharing options...
Darrel Posted May 30, 2011 Share Posted May 30, 2011 maximum late fees would be $100. Not sure if they will ding you for the back R&B tax. The co.gov web site should be able to tell you. Link to comment Share on other sites More sharing options...
Brady Posted May 30, 2011 Author Share Posted May 30, 2011 This is the part I'm afraid of: Registration Fees Fees are based on the empty weight and type of vehicle being registered. Additional fees may be collected based on county of residence and license plate selected. Specific Ownership Taxes These taxes are based on the year of manufacture of the vehicle and the original taxable value which is determined when the vehicle is new and does not change throughout the life of the vehicle. Ownership tax is in lieu of personal property tax. Vehicles do not need to be operated in order to be assessed this tax. The ownership tax rate is assessed on the original taxable value and year of service Original taxable value is 85% of manufacturer's suggested retail price (MSRP). The annual specific ownership tax is based on the year of service. from http://www.colorado.gov/cs/Satellite?c=Page&cid=1186648380755&pagename=Revenue-MV%2FRMVLayout Link to comment Share on other sites More sharing options...
Drift Motion Posted May 30, 2011 Share Posted May 30, 2011 damn, that sucks In cali there is the Non-op option ($18) then you just get the car pass smog when you want to re-register it again Link to comment Share on other sites More sharing options...
Brady Posted May 30, 2011 Author Share Posted May 30, 2011 Dammit! After looking at the tax structure in Denver, I might be wise to get the LGT current and then trade it in at a dealer. The difference in the tax value could be tremendous. I'll have to look into trade in values and see if I can score a deal at a dealer on the toy of choice. Link to comment Share on other sites More sharing options...
Brady Posted May 30, 2011 Author Share Posted May 30, 2011 damn, that sucks In cali there is the Non-op option ($18) then you just get the car pass smog when you want to re-register it again Yeah. It's a total scam in Colorado, and I recognized that when I moved here. What stood out to me is that if you own a classic Yenko Camaro worth $250,000, you pay $3 to register it, but if you own a 9 year old 5 series with 250,000 miles and worth $5000, you pay half the car's value in taxes each year. Ownership Tax is a personal property tax based on the taxable value of your vehicle. The taxable value of a vehicle was calculated as a percentage of the Manufacturers Suggested Retail Price (MSRP) when the vehicle was brand new. This value remains constant throughout the life of the vehicle. (See Example #2 below) The percentage applied to your MSRP depends on the vehicle type. The Manufacturers Suggested Retail Price (MSRP) of a vehicle is not the same as the purchase price. Vehicle Type Taxable Value Trucks and Trailers MSRP x 75% Passenger vehicles MSRP x 85% Motorcycles MSRP x 85% The ownership tax rate is based on the age of the vehicle from the date of manufacture. The ownership tax is calculated by multiplying the taxable value by the tax rate. (See Example #2 below) Vehicle Age Tax Rate 1st year 2.10% 2nd year 1.50% 3rd year 1.20% 4th year 0.90% 5th-9th year 0.45% 10th year and older Flat fee of $3.00 EXAMPLE #2: Ownership tax in 2002 for a 4 year old 1998 passenger vehicle with an MSRP of $20,000. Ownership Tax = Taxable Value x Tax Rate = (MSRP x 85%) x Vehicle Age (4th year) Tax Rate (0.90%) = ($20,000 x 85%) x 0.90% = $153.00 License fees are those fees paid to license your vehicle within the State of Colorado. The combination of license fees and ownership tax is what you pay each year to register your vehicle. License fees are based upon the year, weight, taxable value and the date of purchase of the vehicle and, for most passenger vehicles, average between $60.00 and $85.00 per year. Link to comment Share on other sites More sharing options...
Brady Posted May 30, 2011 Author Share Posted May 30, 2011 Oh, which is totally not lost on me that I'm looking to buy a 13+ year old car that will qualify for the $3 per year fee, and will probably be worth twice as much as my LGT. Link to comment Share on other sites More sharing options...
STIBungy Posted May 31, 2011 Share Posted May 31, 2011 You dont have to pay back taxes on it. I sold my VFR800 motorcycle which had tags that were expired for 9 months. There's no where in the title when you transfer it over that requires you to enter registration date. All you have to do is sign the title over and give the new owner a bill of sale. Link to comment Share on other sites More sharing options...
ragman Posted May 31, 2011 Share Posted May 31, 2011 Yeah...sign over the title, and you are done. No back registration in this state. Link to comment Share on other sites More sharing options...
Brady Posted May 31, 2011 Author Share Posted May 31, 2011 That's a relief. Thanks guys! Link to comment Share on other sites More sharing options...
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