Amount of tax credit against tax
Sec. 5. (a) The amount of tax imposed by this chapter shall be
based upon the classification of the vehicle, as provided in section 4
of this chapter, and the age of the vehicle, in accordance with the
schedule set out in subsection (c) or (d).
(b) A person who owns a vehicle and who is entitled to a property
tax deduction under IC 6-1.1-12-13, IC 6-1.1-12-14, IC 6-1.1-12-16,
or IC 6-1.1-12-17.4 is entitled to a credit against the annual license
excise tax as follows: Any remaining deduction from assessed
valuation to which the person is entitled, applicable to property taxes
payable in the year in which the excise tax imposed by this chapter
is due, after allowance of the deduction on real estate and personal
property owned by the person, shall reduce the annual excise tax in
the amount of two dollars ($2) on each one hundred dollars ($100)
of taxable value or major portion thereof. The county auditor shall,
upon request, furnish a certified statement to the person verifying the
credit allowable under this section and the statement shall be
presented to and retained by the bureau to support the credit.
(c) After January 1, 1996, the tax schedule is as follows:
Year of
Manufacture I II III IV V
1st . . . . . . . . . . . . . . $12 $36 $50 $50 $66
2nd . . . . . . . . . . . . . . 12 30 50 50 57
3rd . . . . . . . . . . . . . . 12 27 42 50 50
4th . . . . . . . . . . . . . . 12 24 33 50 50
5th . . . . . . . . . . . . . . 12 18 24 48 50
6th . . . . . . . . . . . . . . 12 12 18 36 50
7th . . . . . . . . . . . . . . 12 12 12 24 42
8th . . . . . . . . . . . . . . 12 12 12 18 24
9th . . . . . . . . . . . . . . 12 12 12 12 12
10th . . . . . . . . . . . . . 12 12 12 12 12
and thereafter
Year of
Manufacture VI VII VIII IX X
1st . . . . . . . . . . . . . . $84 $103 $123 $150 $172
2nd . . . . . . . . . . . . . . 74 92 110 134 149
3rd . . . . . . . . . . . . . . 63 77 93 115 130
4th . . . . . . . . . . . . . . 52 64 78 98 112
5th . . . . . . . . . . . . . . 50 52 64 82 96
6th . . . . . . . . . . . . . . 50 50 50 65 79
7th . . . . . . . . . . . . . . 49 50 50 52 65
8th . . . . . . . . . . . . . . 30 40 50 50 53
9th . . . . . . . . . . . . . . 18 21 34 40 50
10th . . . . . . . . . . . . . 12 12 12 12 12
and thereafter
Year of
Manufacture XI XII XIII XIV XV
1st . . . . . . . . . . . . . $207 $250 $300 $350 $406
2nd . . . . . . . . . . . . . 179 217 260 304 353
3rd . . . . . . . . . . . . . 156 189 225 265 307
4th . . . . . . . . . . . . . 135 163 184 228 257
5th . . . . . . . . . . . . . 115 139 150 195 210
6th . . . . . . . . . . . . . . 94 114 121 160 169
7th . . . . . . . . . . . . . . 78 94 96 132 134
8th . . . . . . . . . . . . . . 64 65 65 91 91
9th . . . . . . . . . . . . . . 50 50 50 50 50
10th . . . . . . . . . . . . . 21 26 30 36 42
and thereafter
Year of
Manufacture XVI XVII
1st . . . . . . . . . . . . . $469 $532
2nd . . . . . . . . . . . . . 407 461
3rd . . . . . . . . . . . . . 355 398
4th . . . . . . . . . . . . . 306 347
5th . . . . . . . . . . . . . 261 296
6th . . . . . . . . . . . . . 214 242
7th . . . . . . . . . . . . . 177 192
8th . . . . . . . . . . . . . 129 129
9th . . . . . . . . . . . . . . 63 63
10th . . . . . . . . . . . . . 49 50
and thereafter.
(d) Every vehicle shall be taxed as a vehicle in its first year of
manufacture throughout the calendar year in which vehicles of that
make and model are first offered for sale in Indiana, except that a
vehicle of a make and model first offered for sale in Indiana after
August 1 of any year shall continue to be taxed as a vehicle in its
first year of manufacture until the end of the calendar year following
the year in which it is first offered for sale. Thereafter, the vehicle
shall be considered to have aged one (1) year as of January 1 of each
year.
(Formerly: Acts 1969, c.423, s.5; Acts 1973, P.L.54, SEC.3; Acts
1975, P.L.21, SEC.10.) As amended by Acts 1979, P.L.216, SEC.2;
Acts 1980, P.L.38, SEC.22; Acts 1982, P.L.60, SEC.2; P.L.91-1983,
SEC.2; P.L.33-1990, SEC.13; P.L.240-1991(ss2), SEC.53;
P.L.25-1995, SEC.57; P.L.26-1996, SEC.8; P.L.6-1997, SEC.127.
Last modified: May 28, 2006