SUMMARY:

LC 28 9189   LC 28 9258S   LC 43 1357ERS

Would base tax on the retail sales price of the used vehicle, as opposed to the current method of basing it on the lower "book" value of the vehicle. This bill would also lower the combined state/local TAVT tax rate from 7% to 6.6% through 2023. It would also provide that the purchase of any vehicle with a model year of 1989 or older (currently it is 1985 and older) would pay TAVT at the rate of 0.5%. 

Substitution offered from the Senate Committee on Finance adds a provision allowing the governing authority of each county to provide multiple facilities with equal amenities to be used as hearing locations for the use of the members of the board of equalization, the taxpayers, the representatives of the county board of tax assessors and others who may attend hearings of the board of equalization in person. 

EFFECTIVE DATE:

July 1, 2019, if passed.