Personal property taxes are based on the current value of your vehicle and are paid once per year. About half of all U.S. states currently charge a vehicle property tax.
For the average American residing in one of the 27 states that charge vehicle taxes, these taxes cost around $440 each year, according to the U.S. Census Bureau.
When you own your own business, you are always looking for ways to save money. With that, there are a few different ways you can declare a vehicle depending on which way will save you the most money.