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Old 10-27-2009, 07:01 PM
 
2 posts, read 18,072 times
Reputation: 13

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I moved to MD from VA and need to register my vehicle. I purchased the car in VA 4 years ago but from what I found, I still have to pay the MD Excise tax which is 6% of what I originally paid for the car. I'm not sure if what I found is correct but it looks like I'm going to end up paying near $750 after all the taxes and fees!! Below is what the MVA website said about the Excise tax. I'd just like some input into how much I should expect to pay and if I will have to pay the excise tax. Thanks!

For vehicles less than 7 years old:

Vehicle(s) titled in a state with a tax rate equal to or higher than Maryland's 6% tax rate will cost $100.
If the vehicle is registered in a state that imposes no tax, the tax will be assessed at 6% of the value of the vehicle.
Vehicles from a state with a lower tax rate than Maryland's 6% will be taxed at the rate of the difference between the two states. Example: MD 6%, VA 3%, the difference is a 3% tax rate. Minimum tax - $100. When the value of the vehicle is less than $2,000, the 6% rate will apply.
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Old 10-27-2009, 07:18 PM
 
Location: Metro Washington DC
15,395 posts, read 25,634,879 times
Reputation: 10394
Quote:
Originally Posted by lightning82682 View Post

For vehicles less than 7 years old:

Vehicle(s) titled in a state with a tax rate equal to or higher than Maryland's 6% tax rate will cost $100.
If the vehicle is registered in a state that imposes no tax, the tax will be assessed at 6% of the value of the vehicle.
Vehicles from a state with a lower tax rate than Maryland's 6% will be taxed at the rate of the difference between the two states. Example: MD 6%, VA 3%, the difference is a 3% tax rate. Minimum tax - $100. When the value of the vehicle is less than $2,000, the 6% rate will apply.
According to that you pay 3%.
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Old 10-27-2009, 07:21 PM
 
2 posts, read 18,072 times
Reputation: 13
That's how I see it too...which I'm still not happy about. Has anyone been in this same situation and could tell me how it all worked out for them?
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Old 10-27-2009, 09:14 PM
 
941 posts, read 3,893,786 times
Reputation: 639
Quote:
Originally Posted by lightning82682 View Post
That's how I see it too...which I'm still not happy about. Has anyone been in this same situation and could tell me how it all worked out for them?
What is there to work out? You're going to pay the 3% difference.

Since the car is less than 7 years old, I doubt it's worth less than $2k unless you seriously trashed it.

Don't forget to get your car inspected. That's a whole 'nother matter!
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Old 10-29-2009, 11:36 AM
 
Location: Columbia, MD
553 posts, read 1,700,687 times
Reputation: 400
Quote:
Originally Posted by lightning82682 View Post
That's how I see it too...which I'm still not happy about. Has anyone been in this same situation and could tell me how it all worked out for them?
The easiest solution is to look at the cost/benefit of selling your car and buying a new one, even if it's the same one.

For me, it was going to cost 2k-ish to title in MD from VA, plus it was about to need another 2k in service costs (new tires, scheduled maintenance).

I sold my car to CarMax, ended up pocking some profit after paying off the car loan, and bought a slightly newer model of the same car elsewhere for less than what CarMax offered me on trade in.
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