Canadian Mopars on the street.

dadsbee said

Got a phone call. It's been just down the road in Keswick for 22 years. Was run through a dealer to make the sale easier vs the new taxes applicable on the highest of sale price / appraisal value OR agreed value insurance rules coming into play. (Specified Vehicles | Retail Sales Tax)
Guess they figured out most appraisers were doing what ever you wanted for value, so they've now added agreed replacement value insurance coverage as a new player. I didn't pay anywhere near what Hagerty values the car at and sure don't want to pay tax on that value either.

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Interesting that's what Ontario is doing. BC announced they will be charging taxes on the blue book value of vehicles, no matter what you paid. That came into play the beginning of November. I just got a pair of '68 Monaco's for free, and went in to transfer them in my name. The girl said, "Oh, the cutoff for that new rule is 1980, so anything older than 1980, you just pay taxes on what you paid for the vehicles." Sweet! But the people it'll really hurt are people who go out and buy a 2000 era vehicle, which say is now a $500 beater, but they're paying taxes on the $20K price tag it cost new.