Quote:
Originally Posted by platinum903
Quote:
Originally Posted by paliknight
In Texas he would have to pay 6.25% of assessed value of vehicle I believe.
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I'm actually in the process of taking over a different lease and got clarification on this. You actually get taxed 6.25% of the original capitalized cost of the vehicle (not the current appraised value), all due up front at registration. Texas taxes are brutal on leases. |
Haha of course information varies depending on the DMV rep
I asked them earlier and that's what they told me. But your info makes more sense.
I know assuming a lease that's already registered in Texas exempts you from paying tax, but some people have gotten lucky and not paid tax on any lease assumptions regardless of what state they were registered in before.
I completely agree though, Texas tax on cars is brutal, but better than paying property taxes on it lmfao