HELP ! ! ! ! Massachusetts Sales Tax for 356 help needed NOW ! ! ! !

OK, so it seems that Massachusetts has adopted a different "book" as a means as determining what a vehicle is worth. No more Black, or Blue, Or Kelly, or any of that . . . it's now the revised NADA.

http://www.nadaguides.com/default.aspx?LI=1-22-1-5013-0-0-0&l=1&w=22&p=1&f=5014&y=1965&m=1144&d=5166&c=7&vi=84798&z=02364&da=-1

Anyone in MA had to deal with this? Is there a project car option or maybe an under-construction kinda thing that I can ask about. At close to $40,000 value, the 5% sales tax is gonna KILL ME ! ! !

Thanks !

TC

NY is the same, only worse! Every time a vehicle is sold(and then registered) tax is assessed. I paid almost 9% on my Spyder, at $16000 purchase price! $1400 plus registration fees plus insurance. I guess I should consider myself lucky, as it is a one-time thing for me, at least on this car. At least I paid a lot less for my 911, for which I have a receipt, and a whole lot of pictures to prove it's poor condition when I got it.

Here in Pa there is a 6% on any vehicle registered....a cash cow for the state. If you declare a lower amount than what PennDot feels it's worth , you have to fill out a form listing the repairs needed and EVERYTHING I register needs major repairs. ~Alan

TC - won't they take a notorized Bill of Sale as documentation of original cost? Seems I've seen 356 go for less than that on ebay.

In VA (FairFax) you "only" pay 2% of book value when purchasing (no credit for trade-in) but then get pay each year (personal property tax) for owning it. They did role back the 4.57% of blue book value each year - with lower rate on first $20k (about 2.3%) but still its each year! My '85 Yota pickup (value under $1k)finally has a zero tax bill.

calif doesnt even require a bill of sale, just your word on how much you paid...just saying.

From what I've heard on other forums and other MA residents who have gone through this, it's NADA or nothing. Unfortunately NADA doesn't have valuations on anything below good daily driver cars. Even at that, their values are higher than the real world.

It looks like it's another "back door' kind of tax in order not to raise general tax rates. It's a frustrating state to live in and deal with for sure. If I wasn't born here, and too lazy to leave, I wouldn't even be here.

The values listed for my '55 and '65 356s tops $110,000 combined. If I'd delayed in titling them 'til this year, I'd be putting out over $5,000 just in sales tax. I wonder if the fire/theft/collision insurance pay-out is also based on the NADA book. Anyone know an agent that they could ask?

These certainly ARE rich men's toys. Really takes all of the fun out of throwing together an Outlaw.

On the PLUS side, my Father is now a quadriplegic so I "inherited" his brand new Heritage Edition Mustang ! ! ! I'm gonna make a t-shirt that says, "My Father lost the use of his limbs and all I got was this crummy Mustang" next week . . .