Monday, January 28, 2013

The GA Legislature is try to get into your collector car!

The Georgia Legislature is at it again, trying to impose an additional tax on hobby and collector cars.  Two years ago they tried to do this as part of a legislative overhaul of the tax code.  That effort failed, in part due to the resounding negative input from the public, both collector car owners and lobbying groups alike. Now they are trying to re-introduce this portion of the code revision as an adjustment to the ad valorem tax structure on cars older than 1986. They want these cars taxed at FAIR MARKET VALUE!  DUH? What exactly would that be?

Georgia law does not require a title on pre-1986 vehicles.  In fact, current regulations do not provide a mechanism for pre-1970  vehicles to obtain a title! So the newly instituted title tax does not effect these vehicles.  Then someone took a look at the registration data for the State of Georgia and suddenly realized that there were a bunch of vehicles that would not be subject to this new tax.  BUMMER!

So leave it up to the Georgia Legislature to try to find a fix to a flawed piece of ill thought-out legislation that nobody took the time to take beyond the glorious revenue number that they thought it would generate.  Now the question is: have they thought this one out?  I doubt it.

In fact, the bill has no provision or mechanism for re-evaluating the fair market value of these vehicles.  So a 1968 Ford Mustang that someone drives as a rolling restoration could be taxed at the same rate as a fully restored trailer-queen that is a true show can and is hardly if ever actually driven.  If they use Barrett-Jackson numbers as a guideline expect to pay more in ad valorem tax on this Mustang than the owner of a new Mercedes will pay for his car.

Make your voice known by signing this petition to be sent to the top legislators in the Statehouse.  Tell them exactly how you feel.