I showed up around 9:00, and had a coffee and left around 10 of 10, just me, didnt have much to say to myself..... Image Unavailable, Please Login
I went out to get in the car about 8 and discovered my driveway was coated with a layer of ice...and since our driveway runs uphill for about 1/10th of a mile (not to mention that i just about fell on my a$$ walking to the car), I opted to stay put. Today was my formal acknowledgement that winter is upon us. I put all the toys in storage mode and called the insurance company to dial back the coverage until further notice.But hey, only 20 more days and the days will start getting longer again.
I was going to swing by since the mother in law was in town to help out with the kids, but thought no one would be there due to the weather. I'll know better next time.
Nice meeting minutes! Calendar is in, looks great! Only thing is the yellow weekend / holiday background colors looks more yellow-green than yellow yellow. Not sure why, the cars and Ferrari logos look yellow yellow. Either way it'll look great in an office or garage. Anyone else in before I order? if so, stand up and be counted in the other calendar thread! Image Unavailable, Please Login
Hey Troy, you're famous! Just saw your car on the Ferrari newsletter cover (at least had the same license plate as your name here)!
It is/was me. Just converted over to an Early American plate a few weekends ago to lock the value of the car at $500 for property tax purposes. The WAR EGL plate is now on the daily driver. Photo must be from the Maine Event or Blake and Jennie Stevenson's BBQ as they were the only two events I made it too this year.
I stopped in Sunday morning as well. Got there around 10;00, maybe? Had a coffee, read the paper, then went to the office to get a jump on the week. Think I was there in between Pete and Lane. Sorry I missed you guys.
I had no idea about the "Early American" registration to lock in the $500 property value. I just went over to the DMV to pick up the forms. What did they charge you to re-register the Ferrari (if you don't mind me asking)... I want to know what to expect tomorrow when I go back with the forms filled out.
When I registered the Firebird years ago they said 20-25 yrs old is 'classic' and over 25 was 'antique'. Is anything over 20 now 'early american'? Anyways forget it Joe you don't qualify, yours is 'Early Italian'
Not sure when the change actually occured, but yes it is 20 years now. Funny thing, the online DMV forms still say 25 years. I didn't know anything about it until Blake's BBQ back in early October. Noticed an '88 Testarossa with early american plates and commented on how odd it looked to have an early american plates on a Ferrari. The owner (can't remember his name), indicated that he had swapped it because of the property tax issue. I believe it was $20 for the switch, but don't remember for sure as I was moving my existing vanity plate to my daily driver, and that had some expense associated with it as well. Total bill was about $120. Much less than one year of property taxes.
Thanks. I'm off to DMV tomorrow at lunch with checkbook & forms in hand. I agree, even if it is $120, it's better than the $800 bill I paid in taxes. Thanks for the heads up on this. I find more useful info on F-Chat every day!
The bulk of mine was due to when one of the registrations was expiring and them charging me another two years of registration. I was apparently inside the shortest allowable timeframe for moving a registration, so now the 328 is good until March 20011. Unless you're in the same boat, you should come out much cheaper.
Joe - you might want to call your town's tax assessor to verify the $500 fixed value. I went to go back to the website where I found the info online after being told about it at the BBQ, and the website no longer eixsts. Better to clarify first before outlaying the cash.
I did in fact do that this afternoon. They did confirm that if the car is 20 years or older and is registered as "Early American" that the property value is fixed at $500.
Same as my Firebird, $500 value and pocket change for taxes. Although I'd love an $800 Ferrari tax bill, the 355 is almost double that!
Craig, You're in great shape for an early American!!! The IRS does allow for a very generous tax credit for those registered as "early American". However, the credit is contingent upon displaying your "tags". They require that the tags be legible with the verbage "Early American, Born Circa xxxx". Tags must be firmly affixed to the body - one front and one rear. Properly mounting the front tag is always a challenge on the more exotic early Americans as they don't usually come from the factory with a mounting bracket and drilling holes is often problematic. As always, check with your tax advisor prior to taking any action.
I called him this morning. It appears that the only way I can get a tax break from the IRS as an Early American is to prove that I'm dead. He also said Congress is now exploring how to eliminate that loophole. Well, it was worth a try anyhow.
My copy of the FCA News Bulletin just showed up today. Apparently my car is famous! Photo is from this year's Maine Event when we were at a stoplight waiting to cross Pennobscot Bay.
I went to the DMV today and got the "Early American" registration and plates. I called the town and they confirmed once they receive the info from the DMV, the tax bill for 2009 should be right around $20. It was worth the trip to DMV... it is always interesting venturing in there... you never know the characters you will meet while waiting in line... I don't know what rock they crawl out from under.
