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That should be only for the first year. I think mine was $3,500 first year and $2,700 2nd year, and I expect it to keep going down.My 70D costs me over $3k a year in Fairfax County.
I've been writing it off for the past 10+ years that I've lived in VA, heh, but I do my own taxes, so don't take this as tax advice.Is it a tax write off if you itemize?
you can get a firearms carry permit in VA, next to impossible in MD.Is it a tax write off if you itemize?
It's a tough call between MD and VA when it comes to taxes and other things,
All in all, depends on your personal situation but MD comes to be slightly more tax-y, but in return you get better public transport and walkability.
- Prop taxes are 10% higher here (montgomery county vs. fairfax)
- No car tax in MD, you pay an additional $64 I think per year on EVs
- There is a business income tax in most VA counties
- More jobs on the VA side
- Traffic is worse on the VA side, public transport is much worse, so is 'walkability'
- VA has no solar credits, MD has a little
- Montgomery county is very strict on regulations, both business and home, fairfax county is easy going comparatively speaking
- VA you pay tax on groceries, MD, 5c tax on bags.
that is correct, what are the annual registration fees?In Philadelphia we pay a flat 8% sales tax, and New Jersey the tax on a EV is "0"
There *used* to be one safety inspection. Ever. When you bought the car. Lived there 15 years ago, but I assume it's not changed based on the state of MD cars I see.MD has no emissions test on EVs. I don't think there is a safety inspection either.
Registration is 350ish every 2 years. Also they extended the carpool benefit till Sept 2018.
Hm... would the 'value' of the car change that rapidly? There is the exempt portion (the old 'no car tax' thingie in Virginia, which really only subtracted a fixed amount; I forget, $25K?), but I can't see your tax decreasing by 23% after the first year...That should be only for the first year. I think mine was $3,500 first year and $2,700 2nd year, and I expect it to keep going down.
ut what I wasn't ready for was the personal property tax. My 70D costs me over $3k a year in Fairfax County.
property taxes are deductible as long as you take itemized deductions, most people do not do that by taking a standard deduction, and many are caught up in the AMT tax and cannot take deductions.property taxes are deductible. At least, I bet most people here do, and I've never seen an issue with it.
Well, yeah, I assumed anyone that does their taxes knows about those little complications.property taxes are deductible as long as you take itemized deductions, most people do not do that by taking a standard deduction, and many are caught up in the AMT tax and cannot take deductions.
I posted updated numbers up thread, closer to 13%, I didn't check the value they used, but if you're curious, I can probably dig it upHm... would the 'value' of the car change that rapidly? There is the exempt portion (the old 'no car tax' thingie in Virginia, which really only subtracted a fixed amount; I forget, $25K?), but I can't see your tax decreasing by 23% after the first year...
That's one of my problems, also... a new X will be about $3K+ a year no matter what you do; on the other topic, property taxes are deductible. At least, I bet most people here do, and I've never seen an issue with it.
I came from NYC too, and was shocked at the yearly tax. It's based on the value of the car, so it's not always $3k/year. Could be a few hundred.OK I'm not getting this. You pay 3k EACH year on the car? That's insane! I'm in NY, one of the most taxed states but after the initial sales tax the only charges are registration and inspection. Maybe $150 a year. Of course my property taxes are 18k a year.