| 2011 Tax Relief is 58%
Beginning Tax Year 2006, qualifying vehicles with assessed value of more than $1,000 shall be provided a percentage of tax relief, annually fixed and applied to the first $20,000 in value. Qualifying vehicles with a value under $1,000 will receive 100% tax relief. Your personal property tax bill will reflect whether or not your vehicle qualifies for relief, and will also reflect the amount of the relief.
Who qualifies?
A vehicle must meet all three of the requirements below to qualify for tax relief. The vehicle must:
- Be a passenger car, pickup or panel truck weighing less than 7,501 pounds, or motorcycle; and
- Be (i) owned by a natural person or (ii) leased by a natural person under a contract requiring such person to pay the tangible personal property tax or (iii) held in a private trust for an individual beneficiary; and
- Be used for non business purposes.
Note: If a gross weight change is recorded with the Department of Motor Vehicles that may cause a previously unqualified vehicle to become qualified (i.e., the gross weight is changed from 10,000 to 7,500 pounds), the vehicle may be considered for qualification for the following tax year.
Division of Motor Vehicles.
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