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Calculate My Fees. Turn on suggestions. Showing results for. Search instead for. Did you mean:. New Member. Where do i enter the vlf for my vehicle Do i need to do a separate deduction from the registration fee.
Accepted Solutions. Level 5. Where do i enter the vlf for my vehicle The only fee you can claim is the one that is based on the value of the vehicle. This is usually done by showing the tax paid as a percentage of household income, across income groups. Unfortunately, data limitations prevent a thorough examination of this relationship between income and VLF paid.
However, two data sources do exist that provide some insight into the relationship. First, for Californians who itemize on their personal income tax forms, the VLF is tax-deductible on the personal property tax line on their tax forms. As a result, income tax returns provide information on VLF paid, but only for those taxpayers taking advantage of the tax deduction.
Second, the U. Census Consumer Expenditure Survey collects vehicle expenditure data by income group on a national basis. While acknowledging the less-than-perfect data, our review of these two sources does allow us to draw the following conclusions:. Each owner's fee would therefore be cut in half. Then, beginning January 1, , the rate would be halved again--to 0. The Governor proposes to hold local governments and realignment "harmless" from the tax reduction by using General Fund revenues to backfill the foregone VLF revenues.
The funds to repay local governments would be continuously appropriated and would not need to be approved in the annual budget process. A similar proposal is contained in SB , [Haynes]. The phase-in of this tax reduction would use an exemption on vehicle purchase price. Assembly Bill proposes to reimburse local governments for all lost revenues by using the state's sales tax revenues. Once the VLF was eliminated, the DMV would continue to calculate the amount of revenues that would have been collectedin order to accurately replace foregone local revenues.
There are many other ways that a tax cut could be provided through changes to the VLF. By changing any combination of the tax rate, the depreciation schedule, and a value exemption, the VLF can be altered to provide a given amount of tax relief. For instance, SB Hurtt proposes to return to the depreciation schedule in effect prior to The VLF is tax deductible for the roughly 40 percent of Californians who itemize on their tax returns. As a result, the full impact of a fee reduction would not be received by those itemizing taxpayers who claim the amount paid.
Instead, part of any reduction in VLF revenues would be offset by increased income tax revenues paid to both the federal government and the state. For instance, a California taxpayer currently paying federal taxes at the highest marginal tax rate would only realize about three-fifths of any VLF reduction. In a review of recent income tax data, it appears that many taxpayers who itemized did not claim the personal property tax deduction for the VLF.
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