The value of a motor vehicle for excise purposes is determined by the Commissioner of Revenue at varying percentages of the manufacturer’s suggested retail price (MSRP) in the year of manufacture. Examples follow:
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%
Condition, market value, deals and options are not considerations in determining the value for excise, nor the age of the vehicle after the fifth year.