Texas Vehicle Inventory Tax Scam!
I'm in the process of buying a 2010 Tacoma and got a copy of the purchase order agreement today. I started reviewing it and immediately noticed a $0.11 error in the dealer's math. So this got me looking into what the tax rates were and how the dealership calculated them.
Upon doing a little research into what each tax item was for I found this posting on consumerist.com
Granted the links were old and busted so I did a little searching and found the 2010 Dealer Manual on TX DoMV's site:
Sure enough on page 1-3 it details the Vehicle Inventory Tax (VIT) as the following:
"Vehicle Inventory Tax (VIT) - A property tax that dealers pay on their business inventory. This is NOT a tax that is required to be paid by the consumer."
So as a heads up to anyone out there buying a vehicle in Texas this is a tax for the dealership not you and you DON'T have to pay it.
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