Knowledge Base

It is based on the value of the motor vehicle which is based on the manufacturer's suggested list price when it was new. Various percentages of the manufacturer's list price are applied as follows: •in the year preceding the designated year of manufacture 50% •in the year of manufacture 90% •in the second year 60% •in the third year 40%; •in the fourth year 25% •in the fifth and succeeding years 10% Once the value of the vehicle is determined, an excise at the rate of $25.00 per thousand is assessed. Excises are assessed annually.