Luxury Car Values
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In Massachusetts, you have to pay the excise tax on a leased car?
Is there a tax on luxury cars? How determined the amount of duty, I understand is $ 25 to $ 1000, but based on the Bluebook value of the car or how much you owe?
I asked the office of assessor in my hometown of Auburn, MA how the value is determined. It is based on suggested retail Manufacturer (MSRP) when the car was new. The value is reduced for depreciation (I think more than 5 years) with a minimum amount that remains at this level. Reductions tax only on cars that I know are credits for vehicles alternative fuel. If you use your car for business and depreciate you are actually penalized because there is a limit to the maximum depreciation you can claim (you depreciate less than the business% your expense.) I've never rented a car, but I think that the excise tax is included in your rent. Ironically, I had 3 cars, a 2000 Chevy Malibu, a 1996 Plymouth Voyager Minivan and 1993 Mercury Sable. While Sable is the oldest, he is (and always will be) the highest excise tax of three vehicles, even if she was the eldest.
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