>Say you bought a vintage car -- do you have to pay more sales tax each time the car appreciates? Some states and countries actually do tax personal property l

>Say you bought a vintage car -- do you have to pay more sales tax each time the car appreciates? Some states and countries actually do tax personal property like cars. Virginia and Rhode Island, for example. In those jurisdictions, if you have a vintage car in 2021 worth $100k, then you pay $100k * TAX_RATE in 2021. If the value of your car jumps up to $200k in 2022 (due to a movie or something), then you pay $200k * TAX_RATE in 2022. As long as the property is still in your possession, you pay property tax on it.