Motor vehicle excise is taxed on the calendar year. It is an assessment in lieu of a personal property tax. The excise due is calculated by multiplying the value of the vehicle by the motor vehicle tax rate. The tax rate is fixed at $25 per one thousand dollars of value. The value of a vehicle is determined as a percentage of the manufacturer's suggested retail price for that vehicle based on the year of manufacture.
| Year preceding year of manufacture (i.e. - 2005 model in 2004) |
50 |
| Year of manufacture |
90 |
| 2nd year |
60 |
| 3rd year |
40 |
| 4th year |
25 |
| 5th and succeeding years |
10 |
Preceding model year (2005 model in 2004) ► $30,000 x 50% = $15,000 x .025 = $375
