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.
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