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Orange County Property Taxes Article
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What Are Personal Property Taxes?
from:When most of us think of property taxes, we think of the taxes we pay on our home and the property it’s built on. These taxes can be quite large, depending upon the area of the country in which you live, and the funds generally go to support the local government’s budget. But in most states, you’re paying personal property taxes, too. These are taxes on other large items you own, like automobiles, boats, motorcycles, recreational vehicles, aircraft and utility trailers most notably.
Personal property taxes are assessed by the state where the vehicle or other item is registered. Different states use different methods of collection. For example, in some states, you pay one year’s worth of property tax on a vehicle when you register it, and then each year you’ll pay property tax when you renew your license plate. In some states, all license plates are renewed in January, but in other states the renewal date falls on the birthday of the individual to whom the vehicle is registered, so in those states, personal property taxes are being collected all year long. Some states collect personal property taxes once each year, sending out a tax bill to residents for all their personal property at one time.
The rate charged for personal property taxes also varies by state, but it is generally based on the value of the item registered. With cars and trucks the value used for calculating personal property taxes is generally the NADA blue book value.
In most states, personal property taxes are used to fund the budget of the Department of Motor Vehicles, and possibly other state or local governments. Your personal property taxes may go to help pay the salaries of the DMV workers, as well as for building space, and other supplies.
In most states, the term “personal property taxes” is used to mean the taxes described above. However, in some states, this term is also used to refer to real estate property taxes. However, regardless of the terminology used, in most states, these two types of taxes are different, and the funds are used differently.
Property taxes charged on your home and any other property you own generally funds your county or city government, where the money goes to pay for schools, roads, local government and police and fire support. Many people pay both city and county property taxes. Property taxes paid on vehicles, boats, etc, as listed above, however, generally always fund your state, not your local government.
We can’t avoid paying property taxes, and they’re important for funding the budgets of our state and local areas. But, it’s helpful to know how much you’re paying and exactly where your tax money is going.
Orange County Property Taxes News
Local budget proposals include tax hike
With the 2012-13 fiscal year approaching, Chapel Hill, Hillsborough, Orange County and Carrboro’s officials are making the final adjustments to their budget proposals.
Read more...County citizens express confusion over tax bills
County citizens express confusion over tax bills
Read more...Tourism-zone developer mired in tax debt
Orange County's biggest corporate property-tax debtor is seeking new approvals from the county to expand development plans for 2,200 acres of hotels, time shares, student housing and a golf resort east of Orlando's International Drive.
Read more...Orange County budget projects no tax increase, employee raises
Orange County Manager Frank Clifton has proposed a no-tax increase budget that gives a pay raise to employees but less money to the school systems than they asked for.
Read more...Pinellas property tax bills total $300,000 from the top four delinquent homeowners
By Katherine Snow Smith, Times Staff Writer Friday, May 18, 2012 Donna Aloi took home $24 million in lottery winnings. Thousands of property owners throughout Florida are struggling to pay their mortgage, insurance and taxes. But those who owe the most to Pinellas County in delinquent 2011 property taxes aren't the people you would think are living paycheck to paycheck. The tax bills were sent ...
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