mikebike357
New member
Searched the web to find this info... thought some of you might find it useful when thinking about buying a car:
HOW IS THE EXCISE TAX CALCULATED?
Excise Tax is calculated by multiplying the
MSRP by the mil rate as shown below.
The rates drop back on January 1st each year.
1st Year .0240 mil rate
2nd Year .0175 mil rate
3rd Year .0135 mil rate
4th Year .0100 mil rate
5th Year .0065 mil rate
6th Year .0040 mil rate
For example, a 3 year old car with an
MSRP of $19,500 would pay $263.25.
($19,500 X .0135 = $263.25)
http://maine.gov/revenue/forms/property/pubs/excisetaxbrochure.pdf
Think about that when you buy your 2008 STI ($38k x 0.0240 = $912 EEch!)
HOW IS THE EXCISE TAX CALCULATED?
Excise Tax is calculated by multiplying the
MSRP by the mil rate as shown below.
The rates drop back on January 1st each year.
1st Year .0240 mil rate
2nd Year .0175 mil rate
3rd Year .0135 mil rate
4th Year .0100 mil rate
5th Year .0065 mil rate
6th Year .0040 mil rate
For example, a 3 year old car with an
MSRP of $19,500 would pay $263.25.
($19,500 X .0135 = $263.25)
http://maine.gov/revenue/forms/property/pubs/excisetaxbrochure.pdf
Think about that when you buy your 2008 STI ($38k x 0.0240 = $912 EEch!)