Ind. Code § 6-6-5-3 – Valuation of vehicles

(a) This section applies to vehicles that:
1. (1) are registered as:
  1. (A) passenger motor vehicles;
  2. (B) motorcycles;
  3. (C) collector vehicles; or
  4. (D) trucks with a declared gross weight of eleven thousand (11,000) pounds or less; and
2. (2) were manufactured after December 31, 1980.
(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. (1) the price determined under subsection (b); by
2. (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.