Mississippi Bike Tags to Double
#1
12-20-2005, 01:32 AM
Join Date: Oct 2005
Location: Rock Hill MS
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Mississippi Bike Tags to Double
If you ride a motorcycle in Mississippi (AND HARLEYS FOR SURE) be warned your tag will more than likely double this year. The state tax commission has taken it on themselves to change the valuation system for motorcycles. This will result in the tags being extremely expensive.
A little back ground.
Back a few years ago all tags were expensive here in Mississippi. Then the state decided to go from 3% to 5% on your sales tax on a car or truck and then issue a Legislative TAG credit. In other words you paid about the same but they charged you more up front. But nothing was done to Motorcycles. The Legislative tag credit reduces the tag each year by about half on cars and trucks.
Motorcycles have been 7% sales tax for years and are currently 7% with NO legislative tag credit.
Here's the kicker. In the past motorcycles were not valued at MSRP. The state had a system that valued bikes based on their cc engine displacement. With the highest priced bikes not being more than $7,000.
Starting 2 months ago they began using actual MSRP valued provided by RL Polk and running that through the tag system. But no legislative tag credit.
Depreciation is set to a 10 year life just like a car but bikes will have a salvage value of 2% of their original MSRP where cars all have a set $100 value at 10 years. In other words your bike may cost you as much as 4 times that of a car when 10 years old.
First year $20,000 bike is multiplied by 30% and then the local millage rate. In my case a 2005 bike had a tag of roughly $150 last year new will cost me $345 this year one year old.
Another case of the biker getting screwed by a non caring state government. My tax collector today said to shut up and pay it . It's a toy or a luxary item. She's retiring this term but there's no way in hell I would ever vote for her again. If this can't be changed it's time to clear house on a state level as well.
A little back ground.
Back a few years ago all tags were expensive here in Mississippi. Then the state decided to go from 3% to 5% on your sales tax on a car or truck and then issue a Legislative TAG credit. In other words you paid about the same but they charged you more up front. But nothing was done to Motorcycles. The Legislative tag credit reduces the tag each year by about half on cars and trucks.
Motorcycles have been 7% sales tax for years and are currently 7% with NO legislative tag credit.
Here's the kicker. In the past motorcycles were not valued at MSRP. The state had a system that valued bikes based on their cc engine displacement. With the highest priced bikes not being more than $7,000.
Starting 2 months ago they began using actual MSRP valued provided by RL Polk and running that through the tag system. But no legislative tag credit.
Depreciation is set to a 10 year life just like a car but bikes will have a salvage value of 2% of their original MSRP where cars all have a set $100 value at 10 years. In other words your bike may cost you as much as 4 times that of a car when 10 years old.
First year $20,000 bike is multiplied by 30% and then the local millage rate. In my case a 2005 bike had a tag of roughly $150 last year new will cost me $345 this year one year old.
Another case of the biker getting screwed by a non caring state government. My tax collector today said to shut up and pay it . It's a toy or a luxary item. She's retiring this term but there's no way in hell I would ever vote for her again. If this can't be changed it's time to clear house on a state level as well.
#4
12-20-2005, 12:16 PM
RE: Mississippi Bike Tags to Double
find a friend in another state and register bike cheap, the government is certainly out of hand there. Get a bunch of bikers together and protest ride to the state cap. make some noise. Here in Ga it is not much better for the tag but no sales tax on the bike...
#5
12-20-2005, 03:37 PM
Road Warrior
RE: Mississippi Bike Tags to Double
Running around MS with out of state plates just after the system changes is no doubt going to attract some LEO attention. And if you can't show you're a resident of the foreign state where your bike is registered you'd be toast. .....worse than having to cough up another $200 now.
>Starting 2 months ago they began using actual MSRP valued provided by RL Polk and running that through the tag system.
How do they handle it for cars? Years ago Washington State used to tie your motor vehicle tag to its value. Many HD's were $400 + for tags. They also had an 800 number citizens could call and turn in someone who they suspected were trying to get by on tags from another less expensive state. Don't ask me how I know [:@]
I suppose MS has to find as many ways as they can to raise some bux after Katrina. I'd imagine a lot of tax revenue came off that Gulf Coast pre-Katrina compared to now.
Ken
'01 FLHT
>Starting 2 months ago they began using actual MSRP valued provided by RL Polk and running that through the tag system.
How do they handle it for cars? Years ago Washington State used to tie your motor vehicle tag to its value. Many HD's were $400 + for tags. They also had an 800 number citizens could call and turn in someone who they suspected were trying to get by on tags from another less expensive state. Don't ask me how I know [:@]
I suppose MS has to find as many ways as they can to raise some bux after Katrina. I'd imagine a lot of tax revenue came off that Gulf Coast pre-Katrina compared to now.
Ken
'01 FLHT
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