Monday, March 26, 2012
New tax law ends vehicle ad valorem, adds title tax
Courtesy of 11alive.com
Beginning on that date, a big change in Georgia's tax laws will eliminate that tax for motorists. In its place, a one-time title tax will come into being for purchases of new or used cars after that date.
The big question: will the new tax cost motorists more?
For most people, the answer is no.
Motorists who purchase a new or used car or truck now pays a sales tax on the vehicle, then a once-per-year tax based on the value of the vehicle. That fee is paid out when the vehicle's tags are renewed each year.
As a result of this change, the ad valorem tax deduction vehicle owners have been able to take will go away.
For purchases on or after March 1, 2013, owners will pay a title tax of 6.5 to 7 percent on the purchase of the vehicle.
Buy a car, truck or used vehicle right now and you will pay a sales tax and on top of that--on your birthday--you'll pay a once-a-year Ad-Valorem tax based on the value of the vehicle.
"The title fee takes off the sales tax. There is no sales tax and there is no ad valorem on the car--a one-time title fee until 2015 will be less than the sales tax you pay on your vehicle," said Rep. Tom Rice (R-Norcross).
For car owners who have been paying an ongoing ad valorem tax each year on their vehicle, they will continue to pay that tax as long as they own that vehicle.
But under the new tax law and rules, motorists will not have to pay more.
For example, a motorist purchasing a new vehicle for $40,000 today pays sales tax -- 7 percent in most Georgia counties -- which in most counties would come to $2,800. After that, motorists continue paying an annual ad valorem tax based on the value of the vehicle. In this example, the motorist would pay about $700 per year, which comes with the license plate renewal.
After the new tax law kicks in next March, that same motorist would end up paying a one-time title tax that would come out to about $2,800. That's it. No sales tax; no annual ad valorem tax.
That would allow the annual out-of-pocket fee for license plates to drop significantly.
Friday, March 23, 2012
2012 Mitsubishi Outlander Sport grabs IIHS Top Safety Pick
Courtesy of Autoblog.com
- Front impact crash testing
- Side impact crash testing
- Roof strength test results
- Rear crash protection/head restraint ratings
With a starting MSRP of only $18,795, the 2012 Mitsubishi Outlander Sport provides comfortable and roomy seating for five, is powered by a capable 148 horsepower 4-cylinder engine that achieves an EPA-rated 25 mpg city/31 mpg highway and features energy-saving technologies including Electronic Power Steering (EPS) and a specially-designed high-efficiency alternator. Available options include an advanced Continuously-Variable Transmission (CVT), panoramic glass roof, 9-speaker Rockford-Fosgate® premium audio system, HDD navigation system and Mitsubishi's legendary All Wheel Control (AWC) all-wheel drive system.
Thursday, March 22, 2012
Wednesday, March 21, 2012
Tuesday, March 20, 2012
Mitsubishi shrinks EV engines
COURTESY OF TG
The auto manufacturer recently released news of a prototype electric vehicle motor system that features a built-in silicon carbide inverter, making the system smaller and lighter than earlier versions and potentially improving vehicle energy efficiency.
The car company says its latest innovation will give automakers the ability to develop electric cars with greater passenger space as the new built-in inverter (the electrical device which converts direct current to the more manageable alternating current) is designed at only half the dimensions of their current electric motor system, which comprises separate motors and the inverters that drive those motors.
The new inverter is also cylinder-shaped and equal in diameter to the motor itself, enabling it to be connected coaxially within a chassis.
Perhaps the most important component of the new electric motor system is Mitsubishi's decision to switch from using silicon chips in the powering devices for inverter switching, to using silicon carbide.
The subtle difference in the chemical component is extremely important, as silicon carbide has a breakdown electric field tens times greater than silicon alone, allowing for thinner chips. The silicon carbide chips also have a 50% reduction in loss compared to the older chip model.
Mitsubishi has also improved its permanent, neodymium magnent motor, and was able to reduce the size while seeing magnetic efficiency increase and a 5 percent power output boost.
Electric vehicles and hybrids are in a somewhat interesting position in the American market at the moment. While February saw an increase in green car sales, Chevrolet has temporarily suspended production of its much-talked-about Volt, saying the vehicle has become a "political punching bag."
The heated debate surrounding government assistance for the automobile industry, already a hot-button issue, has seemingly increased during this election year. EarthTechling's Susan Kraemer made a compelling argument that the Obama administration's $5 billion investment to reduce the cost of batteries in electric cars by half by 2015 will make electric vehicles more affordable for everyone.
By creating a new motor system that is smaller is size and weight, Mitsubishi should, someday, be able to create a car that is a bit larger and more powerful than the i-MiEV, which is admittedly price competitive compared to other electric vehicles, but ultimately still too miniature for many drivers' tastes.
Mitsubishi says it will commercialize the new electric motor system after finalizing cooling technology, downsizing and energy efficiency. If the new technology is as beneficial as the company claims, the advancement could be a boon to manufacturers everywhere, who can mimic the designs to make their own products better.
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