Valuation of vehicles

# (1)

are registered as:

(A) passenger motor vehicles;

(B) motorcycles;

(C) collector vehicles; or

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