The amount of the motor vehicle excise due on a particular vehicle in any year is calculated by multiplying the value of the vehicle by the motor vehicle excise tax rate of $25 per thousand. The value of a vehicle for the purpose of the excise is the applicable percentage for that year of the MSRP for that vehicle. The manufacturer’s suggested retail price for a vehicle is the price recommended by the manufacturer’s list price rather than the actual purchase price, which will control for purposes of calculating the motor vehicle excise.

The applicable percentages are set out as follows:
  • In the year preceding the 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%