[Summit] Tax Math

[Michael McGlynn]

I drive a 2002 Mazda Protege with ~170,000 miles on it. Given the features,
mileage and condition of the car, the Kelly Blue Book says my car is worth
$3,587 if sold to a private party.

My new tax bill on the car is $208.52, or 5.813% of the car's value at the
$60/thousand tax rate.

Last year I paid $250.52. This is a 16.75% reduction. Using this figure as
deprecation, in a 5 year period at the newest mill rate I should expect to
pay:

$250.52
$208.52
$173.59
$144.68
$120.45
=======
$897.76

Now add insurance.

-- 
Thank You,
Michael McGlynn
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://sna.providence.ri.us/pipermail/summit_sna.providence.ri.us/attachments/20140629/319ef8c8/attachment.htm>