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      07-19-2013, 09:05 PM   #15
MadDog
Careful, I Bite.....
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Drives: 2006 325i
Join Date: Dec 2006
Location: S.F. Bay Area

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2006 325i  [3.75]
Quote:
Originally Posted by Maestro View Post
To your point when in CA I transacted two vehicles a 53 Ford 100 which was my dad's and he gave it to me and when I transferred ownership they ask what I paid and the right answer was $0 well the DMV did not like that answer I was not allowed to say the value was $0. The DMV could not look up a value since at the time KKB did not put a value on old cars. However, I learned that DVM would only allow a minimum value of $100 nothing less at the time so I paid registration and tax on that.

The second car I did was a 66' mustang which need to be restored in was in okay shape. I paid $1000 we told the DMV $500 (had a receipt) they said no way, that car value was $1800 so I had to pay registration and tax on $1800 and there was not discussing it with them.

My understand it still works that way expect they do not use KKB but their own database of car values. I am not sure how they handle thing like my truck which I still have and is a street rod. it was a value of around $10K today.

If your Dad gave you a car, you shouldn't have paid any tax. There's a form you fill out saying it was a gift.