Bill > H3273

This bill modifies the Massachusetts motor vehicle excise tax calculation by adjusting the percentage values used to determine the taxable value of vehicles. Specifically, the bill increases three percentage thresholds in the existing law: from 90% to 95% for the first year of a vehicle's life, from 60% to 70% for the second year, and from 40% to 45% for the third year. These percentages are likely part of a depreciation schedule used to assess the taxable value of motor vehicles, meaning that as a vehicle ages, its assessed value for tax purposes decreases. By raising these percentages, the bill would result in slightly higher assessed values for vehicles in their first three years, which could potentially generate more revenue for local municipalities through vehicle excise taxes. The changes appear to be incremental and would affect how motor vehicle excise taxes are calculated across the state.

Budget and Finance

https://malegislature.gov/Bills/194/H3273