I live on the KY/TN/VA border and lots of KY residents trade and tag their vehicles in TN because of KY’s outrageous taxes and fees. In KY you pay sales tax on the sticker, not what you actually paid for the vehicle. If the sticker says $40,000 and you only paid $35000 tough you get to pay an extra 6% on that $5K, you have to present the sticker when tagging the vehicle. Years ago I had a clerk argue with me about the sticker I presented. It was from the window and was the manufacturer with the MSRP. Oh no she declared I want the one with the dealer add-ons. I said this is the one they gave me and what I paid for it. We went back and forth and she finally tagged it, greedy battle axe! Then you get the joy of paying property taxes on it every year in addition to taxes for tagging it for another year. About ten years ago I had an 06 Grand Marquis that went UP in value according to the state of KY. I said have you people finally reached full blown insanity? If you will show me someone willing to pay this I will gladly sell it to them! A freaking Grand Marquis going up in value, two years in a row! On top of that you get to pay outrageous insurance rates.
I now have a lake house in TN which I own with my mother-in-law so I tag my vehicles in TN and insure them there as well and have a TN license. I pay approximately $2600 to insure them, 3 full coverage, 1 liability, no tickets or accidents. In KY it would be about $5200 a year. To tag them in TN $315, in KY I would pay that in taxes for just one of the cars alone! We stay at the lake house two thirds of the time and can’t justify the outrageous KY taxes and insurance rates. I know many people who outright just give the TN address of a relative rather than get hammered by KY.
This is weird. I love the area where I live in KY regarding cars and tabs.
When we moved here from Seattle, we had to get our cars “inspected” before they could be licensed here. It cost five bucks and it amounted to taking down the VIN. And I had no cash and they said, “Oh, just come by next week.” My wife did and they said it was ok and they already took care of it.
And when I renewed my tabs on my Scion FRS, that I drive 150 miles a day to work, I told them about my high mileage and they adjusted the fee accordingly. And they’ve computed the value every year based on that mileage formula.
So, now I have
2013 Scion FR-S
2017 Scion iA
2006 Scion xB
2004 Silverado Z71
Total annual tab fees: $250.
My friends in Seattle pay thousands annually for a stable like that. AND they have a high sales tax. ;)
Hey, Kansas is the highest taxed state in the country as far as personal property tax on vehicles, motorcycles and boats. Which is why about 25% (and growing) Kansas residents tag in Texas, Missouri or Oklahoma.