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Wednesday, September 14 2011 11:04

How do I find out how much my Excise Tax will be?

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Excise Tax is an annual tax that must be paid prior to registering your vehicle. Except for a few statutory exemptions, all vehicles registered in the State of Maine are subject to the Excise Tax.

Excise Tax is defined by State Statute as a tax levied annually for the privilege of operating a motor vehicle or camper trailer on the public ways. Excise Tax is paid at the local municipal office where the owner of the vehicle resides. The municipality that collects the excise tax can use it as revenue towards the annual municipal budget. Typically, the revenue is spent on local road maintenance, construction and repair.

The amount of tax is determined by two things: 1.) The age of the vehicle and 2.) MSRP (manufactured suggested retail price). Excise Tax is calculated by multiplying the MSRP by the mil rate as shown below. The rates drop back on January 1st of each year.

Step Mil Rate

  • Year 1 .0240
  • Year 2 .0175
  • Year 3 .0135
  • Year 4 .0100
  • Year 5 .0065
  • Year 6 .0040

For example, a 3 year old car with an MSRP of $19,500 would pay $263.25 in excise tax.

 

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