Gov. Walz (D-MN) proposes to tax 160% of your car’s value

[teamgreen02 2,264]

They are going to increase the cost of owning a vehicle and try to push more people to the city who have to ride mass transit.  Makes driving newer, more efficient vehicles very expensive.  Guess I'll keep driving 10+ year old rust buckets.  Vehicles over 10 years old have no sales tax on private party sales and ~$50 registration annually.

@X2700 need to plan road to Phoenix so we can come back with some clean 10 year old cars.  A new Surburban is $62k so just the registration the first year on that would be $1600 plus the 6.875% sales tax!  Total tax and reg would be almost $6,000!

Quote

I’m not kidding.

Buried deep in the fine print of Walz’ proposed transportation budget is a massive increase in the annual car registration tax (“registration tab”), being sold as a tax “cut.”

You are supposed to notice that the minimum tax on an auto’s registration has dropped (p. 22) from $35 to $30 per year (imposed on cars over 10 years old).

What you aren’t meant to notice is the massive increase in the tax on newer cars.

In additional to the minimum, Minnesota imposes a registration tax based on the car’s value. It’s calculated against the Manufacturer’s Suggested Retail Price (MSRP) of the car when new. (Minnesota Statute 168.013.)

Currently, the initial tax is 1.285 percent of the MSRP, plus 10 dollars. To illustrate, if you buy and register a brand-new $30,000 car, the registration tax would be $395.50. (There are lots of other taxes and fees, including hefty sales taxes).

Year 2, the registration tax is 90 percent of that. Year 3, 80 percent, and so on.

Under Walz’ proposal, the tax increases to 1.285 percent of 160 percent of the MSRP, or $626.80. You don’t have to be a math genius to calculate that the tax went up 60 percent. Year 2, the tax is on 100 percent of MSRP. Year three, on 90 percent, and so on. It’s as if you paid $48,000 for the car.

Rather than taking a more honest route and increase the tax rate, Walz toys around with the depreciation schedule, and imposes a tax on thousands of dollars of car you didn’t pay for and that the vehicle was never worth.

The hidden increase in the license tab fee is just one of many new taxes proposed by Walz, in a time of record budget surpluses.

It’s not even clear that the proposal will raise that much revenue, as fewer and fewer people bother to pay the tax.

 

[teamgreen02 2,264]

$6000 for taxes and reg on a 8.41% loan.  

[Mag6240 4,699]

This is small cheese compared to what he is going to do to raise taxes to "fully fund" education.  They are taking almost that whole $18 BILLION and spending it, and those that have clearly OVER PAID their taxes with that much surplus, that money is going to be given back to earners who paid less.  The big steal continues in this state, and we are all supposed to be giddy about the money being spent...

[racer254 4,035]

All this does is hurt the middle class.   Democrats and their policies are designed to make 2 classes, the wealthy and the poor.

Edited February 1 by racer254

[teamgreen02 2,264]

33 minutes ago, Mag6240 said:

This is small cheese compared to what he is going to do to raise taxes to "fully fund" education.  They are taking almost that whole $18 BILLION and spending it, and those that have clearly OVER PAID their taxes with that much surplus, that money is going to be given back to earners who paid less.  The big steal continues in this state, and we are all supposed to be giddy about the money being spent...

$7 billion in tax credits to the group that paid 5% of all the state taxes.

I won't get a rebate check or any childcare credits.

[Mag6240 4,699]

Yup, I saw that chart.  But doesn't it make you feel better to be helping those who supposedly need more help??  

[X2700 922]

Paid school lunches for all?

were already feeding those that cannot afford lunches and i guarantee most of those could pay!!

my parents paid for my sister and i and i paid for my four girls!!!!

This pay for everyone shit is getting old!!

Think im looking into sd residency!!

[01mxz800 6,215]

Anything the dems can do to dig deeper in your pockets is on the table 

[racinfarmer 6,976]

I have a feeling in the next few months, I'll be regretting life choices that do not allow us to pick up and move to the land of the free, South Dakota.

[SeaShark 154]

38 minutes ago, racinfarmer said:

I have a feeling in the next few months, I'll be regretting life choices that do not allow us to pick up and move to the land of the free, South Dakota.

The more I keep hearing that is coming out of St Paul, the more I have those same feelings.

[ActionfigureJoe 3,468]

6 hours ago, racer254 said:

All this does is hurt the middle class.   Democrats and their policies are designed to make 2 classes, the wealthy and the poor.

When we’re done with you, which class will you belong to? 

[BOHICA 2,793]

They should exempt EV’s from this proposal and just hammer ICE vehicles.  Call it a carbon tax or something.

[racer254 4,035]

11 hours ago, ActionfigureJoe said:

When we’re done with you, which class will you belong to? 

The same class as you.  And it won't be the same as the people you vote for.

[racinfarmer 6,976]

Next up on the MN Dems crazy list: banning small gas engines by Jan 1, 2025 and a bill to make it illegal to store firearms and ammo in the same location.

The road to hell is paved with good intentions and their supporters cheer them on.

 

[racer254 4,035]

6 minutes ago, racinfarmer said:

Next up on the MN Dems crazy list: banning small gas engines by Jan 1, 2025 and a bill to make it illegal to store firearms and ammo in the same location.

The road to hell is paved with good intentions and their supporters cheer them on.

 

Liberals have been trying to push people into urban areas and making it difficult to own a car etc. are just more ways to do that.

[p51mstg 630]

Unfortunately, they have a lot of support this time around, and the voice of reason is being muffled.  I hope we can prevent those idiotic bills from becoming law, but it’s not a sure bet.

Edited February 16 by p51mstg

[soeaster 287]

DFL controls all now. They are going to ram through whatever they please and we cows and rocks can't do anything about it. No rationality left in the state government, just a liberal wet dream.

[p51mstg 630]

3 minutes ago, soeaster said:

DFL controls all now. They are going to ram through whatever they please and we cows and rocks can't do anything about it. No rationality left in the state government, just a liberal wet dream.

This is what I'm afraid of.  The only chance we have is to sway the outstate Democrats who want to be re-elected.

[Ez ryder 8,871]

4 hours ago, racer254 said:

Liberals have been trying to push people into urban areas and making it difficult to own a car etc. are just more ways to do that.

And at the same time making Minneapolis more dangerous than it has ever been. Was much safer in the late 80s when we were called murderapoils by every news outlet in America 

Fucking sad to watch it play out 

[s pump 643]

On 2/1/2023 at 8:03 PM, ActionfigureJoe said:

When we’re done with you, which class will you belong to? 

Same as you. Make no mistake.

[s pump 643]

On 2/1/2023 at 11:08 PM, BOHICA said:

They should exempt EV’s from this proposal and just hammer ICE vehicles.  Call it a carbon tax or something.

SMFH

[poopooforme 1,525]

There is more and more talk in my neck of the woods to try and get Iowa to annex us from I-90 south.  I-90 will be the new IA MN border.  That would be GREAT!!!!

[racinfarmer 6,976]

On 2/1/2023 at 12:13 PM, teamgreen02 said:

They are going to increase the cost of owning a vehicle and try to push more people to the city who have to ride mass transit.  Makes driving newer, more efficient vehicles very expensive.  Guess I'll keep driving 10+ year old rust buckets.  Vehicles over 10 years old have no sales tax on private party sales and ~$50 registration annually.

@X2700 need to plan road to Phoenix so we can come back with some clean 10 year old cars.  A new Surburban is $62k so just the registration the first year on that would be $1600 plus the 6.875% sales tax!  Total tax and reg would be almost $6,000!

 

I actually saw a article with a real number for how much additional revenue this will drag in to the state coffers.

Any guesses?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$100,000/year

https://wjon.com/vehicle-fees-could-jump-with-new-mn-budget/

[Not greg b 1,332]

14 hours ago, racinfarmer said:

Next up on the MN Dems crazy list: banning small gas engines by Jan 1, 2025 and a bill to make it illegal to store firearms and ammo in the same location.

The road to hell is paved with good intentions and their supporters cheer them on.

 

Firearms bill introduced today in Minnesota. 

[racinfarmer 6,976]

6 minutes ago, Not greg b said:

Firearms bill introduced today in Minnesota. 

Law enforcement should tell the people that wrote that to go enforce their own damn laws.

Turning tens or hundreds of thousands of law abiding Minnesotains into criminals overnight.