(1) For the purpose of determining any locally imposed motor vehicle excise tax, the value of a truck or trailer shall be the latest purchase price of the vehicle, excluding applicable federal excise taxes, state and local sales or use taxes, transportation or shipping costs, or preparatory or delivery costs, multiplied by the following percentage based on year of service of the vehicle since last sale. The latest purchase year shall be considered the first year of service.
YEAR OF SERVICE | PERCENTAGE |
1 | 100 |
2 | 81 |
3 | 67 |
4 | 55 |
5 | 45 |
6 | 37 |
7 | 30 |
8 | 25 |
9 | 20 |
10 | 16 |
11 | 13 |
12 | 11 |
13 | 9 |
14 | 7 |
15 | 3 |
16 or older | 0 |
(2) The reissuance of a certificate of title and registration certificate for a truck or trailer because of the installation of body or special equipment shall be treated as a sale, and the value of the truck or trailer at that time, as determined by the department from such information as may be available, shall be considered the latest purchase price.
(3) For the purpose of determining any locally imposed motor vehicle excise tax, the value of a vehicle other than a truck or trailer shall be eighty-five percent of the manufacturer's base suggested retail price of the vehicle when first offered for sale as a new vehicle, excluding any optional equipment, applicable federal excise taxes, state and local sales or use taxes, transportation or shipping costs, or preparatory or delivery costs, multiplied by the applicable percentage listed in this subsection (3) based on year of service of the vehicle.
If the manufacturer's base suggested retail price is unavailable or otherwise unascertainable at the time of initial registration in this state, the department shall determine a value equivalent to a manufacturer's base suggested retail price as follows:
(a) The department shall determine a value using any information that may be available, including any guidebook, report, or compendium of recognized standing in the automotive industry or the selling price and year of sale of the vehicle. The department may use an appraisal by the county assessor. In valuing a vehicle for which the current value or selling price is not indicative of the value of similar vehicles of the same year and model, the department shall establish a value that more closely represents the average value of similar vehicles of the same year and model. The value determined in this subsection (3)(a) shall be divided by the applicable percentage listed in (b) of this subsection (3) to establish a value equivalent to a manufacturer's base suggested retail price and this value shall be multiplied by eighty-five percent.
(b) The year the vehicle is offered for sale as a new vehicle shall be considered the first year of service.
YEAR OF SERVICE | PERCENTAGE |
1 | 100 |
2 | 81 |
3 | 72 |
4 | 63 |
5 | 55 |
6 | 47 |
7 | 41 |
8 | 36 |
9 | 32 |
10 | 27 |
11 | 26 |
12 | 24 |
13 | 23 |
14 | 21 |
15 | 16 |
16 or older | 10 |
(4) For purposes of this chapter, value shall exclude value attributable to modifications of a vehicle and equipment that are designed to facilitate the use or operation of the vehicle by a person with a disability.