IC 6-6-5-3 : Valuation of vehicles

Sec. 3. (a) This section applies to vehicles that:

(1) are registered as:

(A) passenger motor vehicles;

(B) motorcycles;

(D) trucks with a declared gross weight of eleven thousand (11,000) pounds or less; and

(2) are model years 1981 and later.

(b) The bureau shall adopt rules under IC 4-22-2 to determine the value of vehicles to which this section applies as the basis for measuring the vehicle excise tax. The rules must determine the value of a vehicle as of the time it is first offered for sale as a new vehicle in Indiana.

(c) For each vehicle, beginning with the 1990 model year, the bureau shall reduce the value determined under subsection (b) by dividing:

(1) the price determined under subsection (b); by

(2) one (1) plus the average percentage increase in new automobile prices using the most recent annual reference to the Consumer Price Index for Private New Automobiles as published by the Bureau of Labor Statistics, United States Department of Labor.

(d) The bureau shall classify each vehicle based on the value determined under subsection (c) according to the following schedule:

Class	I	less than $ 1,500
Class	II	at least $ 1,500	but less than $ 2,250
Class	III	at least $ 2,250	but less than $ 3,000
Class	IV	at least $ 3,000	but less than $ 4,000
Class	V	at least $ 4,000	but less than $ 5,500
Class	VI	at least $ 5,500	but less than $ 7,000
Class	VII	at least $ 7,000	but less than $ 8,500
Class	VIII	at least $ 8,500	but less than $10,000
Class	IX	at least $10,000	but less than $12,500
Class	X	at least $12,500	but less than $15,000
Class	XI	at least $15,000	but less than $18,000
Class	XII	at least $18,000	but less than $22,000
Class	XIII	at least $22,000	but less than $25,000
Class	XIV	at least $25,000	but less than $30,000
Class	XV	at least $30,000	but less than $35,000
Class	XVI	at least $35,000	but less than $42,500
Class	XVII	$42,500	and over

(e) The age of a vehicle is determined by subtracting the model year from the current calendar year.

(f) The tax schedule is as follows:

Age	I	II	III	IV	V
0	$12	$36	$50	$50	$66
1	12	30	50	50	57
2	12	27	42	50	50
3	12	24	33	50	50
4	12	18	24	48	50
5	12	12	18	36	50
6	12	12	12	24	42
7	12	12	12	18	24
8	12	12	12	12	12
9	12	12	12	12	12
and thereafter
Age	VI	VII	VIII	IX	X
0	$84	$103	$123	$150	$172
1	74	92	110	134	149
2	63	77	93	115	130
3	52	64	78	98	112
4	50	52	64	82	96
5	50	50	50	65	79
6	49	50	50	52	65
7	30	40	50	50	53
8	18	21	34	40	50
9	12	12	12	12	12
and thereafter
Age	XI	XII	XIII	XIV	XV
0	$207	$250	$300	$350	$406
1	179	217	260	304	353
2	156	189	225	265	307
3	135	163	184	228	257
4	115	139	150	195	210
5	94	114	121	160	169
6	78	94	96	132	134
7	64	65	65	91	91
8	50	50	50	50	50
9	21	26	30	36	42
and thereafter
Age	XVI	XVII
0	$469	$532
1	407	461
2	355	398
3	306	347
4	261	296
5	214	242
6	177	192
7	129	129
8	63	63
9	49	50
and thereafter.

Formerly: Acts 1969, c.423, s.3; Acts 1971, P.L.73, SEC.2. As amended by P.L.24-1986, SEC.31; P.L.335-1989(ss), SEC.8; P.L.90-2002, SEC.304; P.L.256-2017, SEC.23; P.L.147-2018, SEC.2.