I had the opportunity to attend the August Nascar race in Bristol, TN, this year.... just me and 165,000 of my closest friends. There aren’t too many places left that serve fried turkey legs and Bud as a combo meal. The race was loud, exciting at times, long at other times and somehow on lap 429 I started thinking about personal property taxes (it might have been the turkey leg). It turns out that Nascar and personal property taxes have a lot in common. Now before you tune me out on this one.... let’s think about it.
Doesn’t it seem like you are going around and around the same circle when it comes to personal property taxes. When you think you have made it all the way around you realize you are just heading around again. 500 laps later you might be finished, but who has that kind of time. And it’s a bit confusing, having all those drivers out there on the track (not to mention all the sponsors painted on the cars). Sometimes you lose track of a driver because there are 43 other cars so close to each other. Sure, in personal property we don’t have drivers and sponsors but we do have 12,000 local jurisdictions and all the rules, tables and rates that they bring with them.
One of my favorite things about Nascar is that it is uniquely American. There’s nothing quite like it anywhere else in the world..... another similarity to personal property taxes (the debate might still be out on whether that is good or bad). In Nascar there are some real characters and it cost a lot of money to participate... more similarities to personal property taxes. Finally, Nascar was started by bootleggers trying to outrun the law. Only difference now is that the bootleggers are the law. The next time you think personal property, think Jeff Gordon.