we had this in KS for one year...hell was raised.
For example, if I buy an old restorable VW Bug (I'm a old VW nut) for $500, the county taxes me on their determined value-a restored 1973 VW Bug could sell for around 3-5,000.
Lest you think I am joking, a similar scenario happened to me. I bought a VW sans engine for $1. I just wanted the bodyparts.
Now, if I put one of my old 1600 engines in it, and go down to the tag office, they will tax me for what they think its worth, not what I paid for it.
Or at least they would have, until Kansans raised hell last year....
Unbelievable. I mean, on the one hand, it's pretty much a given that most ppl underreport the sale price of a used car, right? I mean, let's be real. But on the other hand, just letting the gubmint say it's worth what they want it to be worth is nuts.