Excise taxExcise tax is assessed on motor vehicles and motorized watercraft. This is a general revenue for the town and is used to decrease the amount of property taxes which need to be assessed. Excise tax is computed differently for the two types of vehicles. Motor vehiclesExcise tax is computed on the manufacturer's suggested retail price (MSRP) for the vehicle when it was new. For vehicles which are older than 2001 or whose original title was in a state other than Maine, the "Red Book" or similar publications is used to determine the MSRP. If the vehicle is a 2001 or newer and had its original title issued by the State of Maine, the window sticker or "Maroney label" price is used. Excise tax is computed using a mil rate which decreases over the first six years of the vehicle's life. Motorized watercraftExcise tax for these recreational vehicles is computed based on age, hull length, and motor size. |