Utility Trailer Taxes
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Utility Trailer Taxes
Hi
I've been thinking of maybe buying a small utility trailer, like a 4x8 flat bed. I was just wondering about how much money I should expect to pay in taxes each year for it.
I've been thinking of maybe buying a small utility trailer, like a 4x8 flat bed. I was just wondering about how much money I should expect to pay in taxes each year for it.
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Joined: Aug 2007
Posts: 1,721
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From: CT
Do you know your mill rate in the town you live in?
Usually towns assess at 70% or so they claim. If your mill rate is 40.00, you will pay about $42.00 for the first year.
$1500.00 x 70% = $1050.00
$1050.00 x .04 = $42.00
If your mill rate is 35..
$1500.00 x 70% = $1050.00
$1050.00 x .035 = $36.75
Depreciation will be calculated as time goes on, and that initial $1500.00 amount will go down each year. As long as your mill rate doesn't go up, you will pay less year after year.
Usually towns assess at 70% or so they claim. If your mill rate is 40.00, you will pay about $42.00 for the first year.
$1500.00 x 70% = $1050.00
$1050.00 x .04 = $42.00
If your mill rate is 35..
$1500.00 x 70% = $1050.00
$1050.00 x .035 = $36.75
Depreciation will be calculated as time goes on, and that initial $1500.00 amount will go down each year. As long as your mill rate doesn't go up, you will pay less year after year.
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