If you are talking about sales taxes, that's true. However, some states charge vehicle-specific taxes or personal property taxes rather than sales tax (or both) and those are typically assessed on the market value rather than the price shown on the bill-of-sale.Taxes on USED are based on the actual selling price and "Blue Book" whichever is higher if there is a big difference. else it's the Selling price.
Missouri has a simple sales tax, too, paid either to the dealer or to the DMV when applying for registration. Missouri also has a property tax. However, it is assessed based on certain items you owned on January 1 of the tax year (vehicles are one of the certain items). So, the 1st year you would not owe property tax on a purchase after Jan 1. (at least, I believe that's the way it works)Gary RV_Wizard said:If you are talking about sales taxes, that's true. However, some states charge vehicle-specific taxes or personal property taxes rather than sales tax (or both) and those are typically assessed on the market value rather than the price shown on the bill-of-sale.
Oklahoma has a nice simple sales tax, so none of this applies to Lgp's inquiry.