Hi, I noticed my lease payment went up this month and when I contacted the finance company I got the following message, “An audit of your account shows an increase in the sales tax for your area from 9.5% to 10%. Notification was received as of 10/25/19. This increase caused your monthly payment to increase from $388.51 to $390.28.”
There are a few different sources for sales tax rate data and some are at the county + 5-digit zip code level (not very accurate), some are at the County+9-digit zip code level (more accurate) and then a couple have it geocoded to lat/long coordinates on top of the county+zip9.
Most likely, NMAC is using a zip5 level database for their sales tax rates. A lot of lenders do the same because only a few states (CA one of them) have instances where it goes more granular than county+zip5.
Even if you call customer service and argue your point, their systems are designed to automatically determine the sales tax rate (and any updates) from their sales tax rate database. I would guess that they won’t be able to manually override the rate at the account level but it’s worth a shot.
Luckily you’re not in CO where some cities are in the 4% range and others nearby are over 8%.