Quote:
Originally Posted by LadiesMan217
.... That means the state thinks your car is worth $27,200. Each year the value of the car will drop...so your excise bill will drop.
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After getting my bill and calling the town clerk and looking online....this is how they actually figure the excise tax:
For the 2ss Rs in MA its valuation at time of sale is $30, 200. It will never drop below that..
for 2009, since is was prior to manufacture year they only assess tax on 50% of the value= 15,100. Depending on when you got your plates...I got in June 2009, so my tax was $221.
For year of manufacture the tax is assessed on 90% of the $30,200 = $27,200 or $680 in tax.
For the 2nd year it will be assessed on 60% of the valuation at time of sale=
$18,000 giving a tax of $450, this is what we'll pay next year.
3rd year it is 40% of the valuation: $12,080 or $303 in tax.
4th year it is 25% of the valuation: $7,550 or $189 in tax.
5th and succeeding years is 10% of the valuation= $3,020 or $75.50.
So no matter how old the 2010 camaro is, the excise tax will never go below $75.50. Gotta love MA.