§ 6-6-5-3 — Valuation of vehicles

Indiana § 6-6-5-3

• Jurisdiction: Indiana
• Art. 6: MOTOR FUEL AND VEHICLE EXCISE TAXES
• Ch. 5: Motor Vehicle Excise Tax

Text

(a) This section applies to vehicles that:
(1) are registered as:
(A) passenger motor vehicles;
(B) motorcycles;
(C) collector vehicles; or
(D) trucks with a declared gross weight of eleven thousand
(11,000) pounds or less; and
(2) are model years 1981 and later.
(b) The bureau shall adopt rules under IC 4-22-2 to determine the
value of vehicles to which this section applies as the basis for
measuring the vehicle excise tax. The rules must determine the value
of a vehicle as of the time it is first offered for sale as a new vehicle in
Indiana.
(c) For each vehicle, beginning with the 1990 model year, the
bureau shall reduce the value determined under subsection (b) by
dividing:
(1) the price determined under subsection (b); by
(2) one (1) plus the average percentage increase in new
automobile prices using the most recent annual reference to the
Consumer Price Index for Private New Automobiles as published
by the Bureau of Labor Statistics, United States Department of
Labor.
(d) The bureau shall classify each vehicle based on the value
determined under subsection (c) according to the following schedule:
(e) The age of a vehicle is determined by subtracting the model year
from the current calendar year.
(f) The tax schedule is as follows:
Formerly: Acts 1969, c.423, s.3; Acts 1971, P.L.73, SEC.2. As
amended by P.L.24-1986, SEC.31; P.L.335-1989(ss), SEC.8;
P.L.90-2002, SEC.304; P.L.256-2017, SEC.23; P.L.147-2018,
SEC.2.