[DML] Re: Taxes On Raffle Car
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[DML] Re: Taxes On Raffle Car



If a North Carolinian wins it:

North Carolina DMV has a database that automatically assigns a value
for title sales tax, as well as annual property tax. It's a pretty
good database -- can distinguish between an XL F-150 and the Plain
Jane version (trim levels are represented in the VIN). A 1981 DeLorean
is around $12,000. Every year I have to take my $7,500 purchase
documentation to the county tax office to have it knocked down.

North Carolina DMV does have an overall $100 minimum vehicle value. If
it's taggable, it's worth at least $100.

I debated whether to buy one raffle ticket or two. Odds are pretty
good (better than the state education lottery) in my favor with one.
Statistics taught me that two tickets would NOT affect those odds, but
Dave Barry taught me that if I bought two tickets, I could be 100%
certain one of them is a loser. I bought one.

Bill Robertson
#5939

>--- In dmcnews@xxxxxxxxxxxxxxx, "Kevin Abato" <delorean@...> wrote:
>
> Taxes are based on the price of the car.  What is the "agreed" or
"assumed" value of the raffle car?
> 
> Deloreans sell from $7-30k pending condition.  That makes a big
difference when you pay taxes on it.
> 
> Kevin Abato
> Vin# 16680
> www.grenexmedia.com




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