Excise tax on Motor Vehicles principally garaged in Concord is levied by the Town of Concord and revenues become part of the community treasury.
EXCISE TAX BILL COMPUTATION
Excise Tax is assessed at a rate of $25.00 per thousand dollars of taxable value. The value of a motor vehicle is determined by the Commissioner of Revenue, based on the manufacturer's list price (MSRP). Condition and market value are not considered in determining value. Percentages are determined as follows:
In the year prior to model year 50%
In the year of manufacture (model year) 90%
Second Year 60%
Third Year 40%
Fourth Year 25%
Fifth Year, each year thereafter 10%
SAMPLE CALCULATION
2012 model year car
Book Value: $32,000
Registered January 15, 2012
2012 bill: $32,000 x 90% factor x .025 tax rate = $720.00
2013 bill: $32,000 x 60% factor x .025 tax rate = $480.00
2014 bill: $32,000 x 40% factor x .025 tax rate = $320.00
2015 bill: $32,000 x 25% factor x .025 tax rate = $200.00
2016 bill: $32,000 x 10% factor x .025 tax rate = $ 80.00
The annual tax then remains at $80.00 (in this example) for as long as the vehicle is registered.
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