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

(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

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.